Consolidated financial statements

[@TheFinanceStoryteller]

Enjoyed this video? Then subscribe to the channel right now, and watch several case studies of the consolidated balance sheet, consolidated income statement and consolidated cash flow statement for companies like Amazon, Facebook, Microsoft and Tesla: kzbin.info/www/bejne/hnqciWiPl8qelac

[@Sahil-yx1mk]

Thank you so much for making this video,i didnt understand this topic even after reading a lot but your video did

[@TheFinanceStoryteller]

Wow, so happy to hear that. :-) This was a fun one to make!

[@MD-cu6wq]

Your work is invaluable, thanks for always explaining the concepts clearly and picking the involved concepts correctly👏🏻👏🏻 Great for revisions.

[@TheFinanceStoryteller]

My pleasure! Thank you for the kind words. Any other topics you think I should cover on the channel?

[@MD-cu6wq]

Pre and post acquisition reserves of subsidiaries?

[@TheFinanceStoryteller]

@@MD-cu6wq I'm afraid that is a bit too "niche", in other words very few people would be searching for that information.

[@codeimagine6824]

​@@MD-cu6wqis it similar to mid year acquisition?

[@llalla4532]

wonderful teaching lesson

[@TheFinanceStoryteller]

Glad to hear that! Enjoy using it.

[@qriouskiara]

Hey Philip, Thank you for this video!

[@TheFinanceStoryteller]

My pleasure! Hope it was helpful.

[@dooham1383]

I am wondering why a deferred tax liability or asset is recognized when an acquisition occurs. For example if equipment is at book value for 10000 for the subsidiary and the fair value is 15000. If tax rate is 30%, then a deferred tax liability of 1500 is recognized. Is the logic that if the equipment is sold, it will result in a taxable gain? Or does it have to do with the depreciation difference between the tax authority and company? Thank you!

[@TheFinanceStoryteller]

Hello! I would say it probably has to with the difference in depreciable amount as well as the timing of the depreciation between the book accounting and tax accounting, but have to admit I never specifically looked into that situation of deferred tax positions created through acquisitions. Hopefully my videos on deferred tax can give you some context: DTA kzbin.info/www/bejne/g6e7cp-ghqlnf6s DTL kzbin.info/www/bejne/raDQaHx4g9OLg5o DTA/DTL kzbin.info/www/bejne/bYKup62Ei5aErZo

[@codeimagine6824]

Is there any difference between indian accounting standards and IFRS

[@TheFinanceStoryteller]

Yes. Do a Google search, and you will find extensive reports by the likes of PWC and Deloitte that list similarities and differences.

[@rudra109]

If parent company is in US & sub company is in India, do Indian Accountant need to work on US GAAP or Indian GAAP?

[@TheFinanceStoryteller]

For corporate reporting, I would expect US GAAP. For local statutory reporting, I assume Indian GAAP. Please check with your corporate accounting office.

[@rudra109]

@@TheFinanceStoryteller okay, thanks

[@saurabhbhardwaj3085]

Sound Financial knowledge . Can u hire You as Stock Advisor ?

[@TheFinanceStoryteller]

Thanks for the compliment, Saurabh! I certainly have some thoughts on investing in stocks: kzbin.info/www/bejne/gWXQiJdor6eMjM0 and kzbin.info/www/bejne/Z2rRnIBqZ7hjlbs

[@KrishanSingh-gz9op]

Why is it a red flag if a company has an unlisted subsidiary?

[@TheFinanceStoryteller]

Either they don't know what they are doing (as in: not having a full list of entities to consolidate) which is an error of omission, or they are trying to hide something (like excessive borrowings to finance risky assets).

[@Kirankoteswar1]

Hi ..can you please share the ppt please ?

[@TheFinanceStoryteller]

Hello! I do share the Excel examples in my videos, but not the PowerPoint presentations....

[@HonestFranklin]

연결회계까지 다룬다는 것은 양도세까지 다룰수 있다

[@Jmslow]

AASB?

[@TheFinanceStoryteller]

Not sure what your question is.... AASB = Australian Accounting Standards Board. Australia has adopted IFRS Standards since 1 January 2005.

[@ishabhadra3137]

Sidhe muhhh se bolnaa