Consolidation of a New York D2C Cosmetics Startup with a French Subsidiary
Overview
What this challenge is about.
Consolidate a D2C cosmetics startup with its French sub. Eliminate intercompany entries and calculate NCI. Earn your verifiable certificate.
The scenario
GlowUp Naturals is a fast-growing D2C cosmetics brand based in New York, with $50M revenue in 2023. It acquired 75% of Belle Peau SAS, a French organic skincare manufacturer, on 1 July 2023 for $12M cash.
The Brief
What you'll do, and what you'll demonstrate.
How to prepare consolidated financial statements under IFRS for a parent with a majority-owned foreign subsidiary, including translation to IFRS, fair value adjustments, and elimination of intercompany transactions?
Earning criteria — what you'll demonstrate
- Apply IFRS 10 consolidation principles to a parent-subsidiary relationship
- Perform fair value adjustments to subsidiary's net assets at acquisition
- Calculate and allocate goodwill and non-controlling interest
- Eliminate intercompany transactions and balances
- Translate subsidiary accounts from local GAAP to IFRS
Program Fit
Where this fits in your program.
Sharpens the same skills your degree expects you to demonstrate.
Aligned coursework coming soon.
Skills
Skills you'll demonstrate.
Each one shows up on your verified credential.
- Ifrs Consolidation
Apply ifrs consolidation to solve real industry problems and demonstrate production-level capability.
- Intercompany Elimination
Apply intercompany elimination to solve real industry problems and demonstrate production-level capability.
- Non Controlling Interest
Apply non controlling interest to solve real industry problems and demonstrate production-level capability.
- Fair Value Adjustments
Apply fair value adjustments to solve real industry problems and demonstrate production-level capability.
- Foreign Currency Translation
Apply foreign currency translation to solve real industry problems and demonstrate production-level capability.
Careers
Career paths this challenge builds toward
Completing this challenge demonstrates skills that transfer directly to these roles: