The practical problems of consolidation

Article Abstract:

The Financial Reporting Committee of the Institute of Chartered Accountants in England and Wales recently reviewed consolidated accounts under Statements of Standard Accounting Practice one and 14, at the request of the Accounting Standards Board. The committee found certain problems regarding consolidation. These include the lack of clear guidelines on the issue of passive and dominant influence, on the appropriate time to prepare consolidated accounts, and on the proper calculation of minority interests where one class of shareholders is given preference over others.

Professional organizations, Management, Evaluation, Institute of Chartered Accountants in England and Wales, Accounting Standards Board, Industrial concentration

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Bonds - the rolled up interest question

Article Abstract:

The rolled-up interest question for convertible bonds is one of the major issues facing the UK accounting committee. The advice by the Financial Reporting Committee in Technical Release 827, Accounting for Bonds Under the Bear, on the accounting for rolled-up interest for convertible bonds is based on flawed assumptions concerning accounting policy. Companies that have failed to account for the rolled-up interest inherent in a convertible bond issue with one-off redemption options are following a poor accounting policy.

United Kingdom, Accounting and auditing, Accounting, Corporation reports, Company reports, Convertible bonds, Great Britain

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