This presentation considers particular financial services issues in dealing with the legislated and unlegislated consolidation measures, including:
- what is a retained and reset cost base asset, including the treatment of marketable securities?
- what is a liability that is recorded in the accounts, including the treatment of derivatives?
- how do you identify all the particular assets and liabilities in financial services groups?
- derivative transactions and consolidation, including the transition to TOFA stages 3 & 4
- assets with volatile valuations, and the delay between acquiring control and joining time
- tax sharing agreement issues with regulated entities
- the many consolidation challenges of hybrid instruments.