INTERNATIONAL FINANCIAL REPORTING STANDARD 10Consolidated Financial Statements OBJECTIVE 1The objective of this IFRS is to establish principles for...Meeting the objective 2To meet the objective in paragraph 1, this IFRS: 3This IFRS does not deal with the accounting requirements for...SCOPE 4An entity that is a parent shall present consolidated financial...Control 5An investor, regardless of the nature of its involvement with...6An investor controls an investee when it is exposed, or...7Thus, an investor controls an investee if and only if...8An investor shall consider all facts and circumstances when assessing...9Two or more investors collectively control an investee when they...Power 10An investor has power over an investee when the investor...11Power arises from rights. Sometimes assessing power is straightforward, such...12An investor with the current ability to direct the relevant...13If two or more investors each have existing rights that...14An investor can have power over an investee even if...Returns 15An investor is exposed, or has rights, to variable returns...16Although only one investor can control an investee, more than...Link between power and returns 17An investor controls an investee if the investor not only...18Thus, an investor with decision-making rights shall determine whether it...ACCOUNTING REQUIREMENTS 19A parent shall prepare consolidated financial statements using uniform accounting...20Consolidation of an investee shall begin from the date the...21Paragraphs B86–B93 set out guidance for the preparation of consolidated...Non-controlling interests 22A parent shall present non-controlling interests in the consolidated statement...23Changes in a parent’s ownership interest in a subsidiary that...24Paragraphs B94–B96 set out guidance for the accounting for non-controlling...Loss of control 25If a parent loses control of a subsidiary, the parent:...26Paragraphs B97–B99 set out guidance for the accounting for the...Appendix ADefined terms Appendix BApplication guidance B1The examples in this appendix portray hypothetical situations. Although some...ASSESSING CONTROL B2To determine whether it controls an investee an investor shall...B3Consideration of the following factors may assist in making that...B4When assessing control of an investee, an investor shall consider...Purpose and design of an investee B5When assessing control of an investee, an investor shall consider...B6When an investee’s purpose and design are considered, it may...B7To determine whether an investor controls an investee in more...B8An investee may be designed so that voting rights are...Power B9To have power over an investee, an investor must have...B10The determination about whether an investor has power depends on...Relevant activities and direction of relevant activities B11For many investees, a range of operating and financing activities...B12Examples of decisions about relevant activities include but are not...B13In some situations, activities both before and after a particular...Application examples Example 1 Example 2 Rights that give an investor power over an investee B14Power arises from rights. To have power over an investee,...B15Examples of rights that, either individually or in combination, can...B16Generally, when an investee has a range of operating and...B17When voting rights cannot have a significant effect on an...B18In some circumstances it may be difficult to determine whether...B19Sometimes there will be indications that the investor has a...B20The greater an investor’s exposure, or rights, to variability of...B21When the factors set out in paragraph B18 and the...Substantive rights B22An investor, in assessing whether it has power, considers only...B23Determining whether rights are substantive requires judgement, taking into account...B24To be substantive, rights also need to be exercisable when...Application examples Example 3 Example 3A Example 3B Example 3C Example 3D B25Substantive rights exercisable by other parties can prevent an investor...Protective rights B26In evaluating whether rights give an investor power over an...B27Because protective rights are designed to protect the interests of...B28Examples of protective rights include but are not limited to:...Franchises B29A franchise agreement for which the investee is the franchisee...B30Generally, franchisors’ rights do not restrict the ability of parties...B31It is necessary to distinguish between having the current ability...B32By entering into the franchise agreement the franchisee has made...B33Control over such fundamental decisions as the legal form of...Voting rights B34Often an investor has the current ability, through voting or...Power with a majority of the voting rights B35An investor that holds more than half of the voting...Majority of the voting rights but no power B36For an investor that holds more than half of the...B37An investor does not have power over an investee, even...Power without a majority of the voting rights B38An investor can have power even if it holds less...Contractual arrangement with other vote holders B39A contractual arrangement between an investor and other vote holders...Rights from other contractual arrangements B40Other decision-making rights, in combination with voting rights, can give...The investor’s voting rights B41An investor with less than a majority of the voting...B42When assessing whether an investor’s voting rights are sufficient to...B43When the direction of relevant activities is determined by majority...Application examples Example 4 Example 5 B44In other situations, it may be clear after considering the...Application example Example 6 B45However, the factors listed in paragraph B42(a)–(c) alone may not...Application examples Example 7 Example 8 B46If it is not clear, having considered the factors listed...Potential voting rights B47When assessing control, an investor considers its potential voting rights...B48When considering potential voting rights, an investor shall consider the...B49If the investor also has voting or other decision-making rights...B50Substantive potential voting rights alone, or in combination with other...Application examples Example 9 Example 10 Power when voting or similar rights do not have a...B51In assessing the purpose and design of an investee (see...B52In addition, an investor shall consider contractual arrangements such as...B53For some investees, relevant activities occur only when particular circumstances...Application examples Example 11 Example 12 B54An investor may have an explicit or implicit commitment to...Exposure, or rights, to variable returns from an investee B55When assessing whether an investor has control of an investee,...B56Variable returns are returns that are not fixed and have...B57Examples of returns include: Link between power and returns Delegated power B58When an investor with decision-making rights (a decision maker) assesses...B59An investor may delegate its decision-making authority to an agent...B60A decision maker shall consider the overall relationship between itself,...B61Determining whether a decision maker is an agent requires an...The scope of the decision-making authority B62The scope of a decision maker’s decision-making authority is evaluated...B63A decision maker shall consider the purpose and design of...Rights held by other parties B64Substantive rights held by other parties may affect the decision...B65When a single party holds substantive removal rights and can...B66Substantive rights held by other parties that restrict a decision...B67Consideration of the rights held by other parties shall include...Remuneration B68The greater the magnitude of, and variability associated with, the...B69In determining whether it is a principal or an agent...B70A decision maker cannot be an agent unless the conditions...Exposure to variability of returns from other interests B71A decision maker that holds other interests in an investee...B72In evaluating its exposure to variability of returns from other...Application examples Example 13 Example 14 Example 14A Example 14B Example 14C Example 15 Example 16 Relationship with other parties B73When assessing control, an investor shall consider the nature of...B74Such a relationship need not involve a contractual arrangement. A...B75The following are examples of such other parties that, by...Control of specified assets B76An investor shall consider whether it treats a portion of...B77An investor shall treat a portion of an investee as...B78When the condition in paragraph B77 is satisfied, an investor...B79If the investor controls the deemed separate entity, the investor...Continuous assessment B80An investor shall reassess whether it controls an investee if...B81If there is a change in how power over an...B82An event can cause an investor to gain or lose...B83An investor also considers changes affecting its exposure, or rights,...B84An investor shall consider whether its assessment that it acts...B85An investor’s initial assessment of control or its status as...ACCOUNTING REQUIREMENTS Consolidation procedures B86Consolidated financial statements: Uniform accounting policies B87If a member of the group uses accounting policies other...Measurement B88An entity includes the income and expenses of a subsidiary...Potential voting rights B89When potential voting rights, or other derivatives containing potential voting...B90In some circumstances an entity has, in substance, an existing...B91IFRS 9 does not apply to interests in subsidiaries that...Reporting date B92The financial statements of the parent and its subsidiaries used...B93If it is impracticable to do so, the parent shall...Non-controlling interests B94An entity shall attribute the profit or loss and each...B95If a subsidiary has outstanding cumulative preference shares that are...Changes in the proportion held by non-controlling interests B96When the proportion of the equity held by non-controlling interests...Loss of control B97A parent might lose control of a subsidiary in two...B98If a parent loses control of a subsidiary, it shall:...B99If a parent loses control of a subsidiary, the parent...Appendix CEffective date and transition EFFECTIVE DATE C1An entity shall apply this IFRS for annual periods beginning...TRANSITION C2An entity shall apply this IFRS retrospectively, in accordance with...C3When applying this IFRS for the first time, an entity...C4When application of this IFRS for the first time results...C5When application of this IFRS for the first time results...C6Paragraphs 23, 25, B94 and B96–B99 were amendments to IAS...References to IFRS 9 C7If an entity applies this IFRS but does not yet...WITHDRAWAL OF OTHER IFRSs C8This IFRS supersedes the requirements relating to consolidated financial statements...C9This IFRS also supersedes SIC-12 Consolidation—Special Purpose Entities. Appendix DAmendments to other IFRSs IFRS 1First-time Adoption of International Financial Reporting Standards D1Paragraph 39I is added as follows: D2In Appendix B, paragraph B7 is amended as follows: D3In Appendix C, paragraph C1 is amended as follows: IFRS 2Share-based Payment D4Paragraph 63A is added as follows: IFRS 3Business Combinations D5Paragraph 7 is amended and paragraph 64E is addedas follows:...D6[Not applicable to requirements] D7In Appendix A the definition of ‘control’ is deleted. D8In Appendix B, paragraphs B13 and B63(e) are amended as...IFRS 7Financial Instruments: Disclosures D9Paragraph 3(a) is amended and paragraph 44O is addedas follows:...IFRS 9Financial Instruments (as issued in November 2009) D10Paragraph 8.1.2 is added as follows: D11In Appendix C, paragraphs C18 and C19 and the headings...IFRS 9Financial Instruments (as issued in October 2010) D12Paragraph 3.2.1 is amended and paragraph 7.1.2 is added as...D13In Appendix B, paragraphs B3.2.1–B3.2.3 and B5.7.15 are amended as...D14In Appendix C, paragraphs C23 and C24 and the heading...IAS 1Presentation of Financial Statements D15Paragraphs 4 and 123 are amended and paragraph 139H is...IAS 7Statement of Cash Flows D16Paragraph 42B is amended and paragraph 57 is added as...IAS 21The Effects of Changes in Foreign Exchange Rates D17[Not applicable to requirements] D18Paragraphs 19, 45 and 46 are amended and paragraph 60F...IAS 24Related Party Disclosures D19Paragraph 3 is amended as follows: IAS 27Consolidated and Separate Financial Statements D20In IAS 27 Consolidated and Separate Financial Statements, the requirements...IAS 32Financial Instruments: Presentation D21Paragraph 4(a) is amended and paragraph 97I is added as...D22In the Appendix, paragraph AG29 is amended as follows: IAS 33Earnings per Share D23Paragraph 4 is amended and paragraph 74B is added as...IAS 36Impairment of Assets D24Paragraph 4(a) is amended and paragraph 140H is added as...D25[Not applicable to requirements] IAS 38Intangible Assets D26Paragraph 3(e) is amended and paragraph 130F is added as...IAS 39Financial Instruments: Recognition and Measurement (as amended at October 2009)...D27Paragraphs 2(a) and 15 are amended and paragraph 103P is...D28In Appendix A paragraphs AG36–AG38 are amended as follows: IFRIC 5Rights to Interests arising from Decommissioning, Restoration and Environmental Rehabilitation...D29In the ‘references’, the entries for IAS 27 and IAS...IFRIC 17Distributions of Non-cash Assets to Owners D30In the ‘references’, an entity for ‘IFRS 10 Consolidated Financial...INTERNATIONAL FINANCIAL REPORTING STANDARD 11Joint Arrangements OBJECTIVE 1The objective of this IFRS is to establish principles for...Meeting the objective 2To meet the objective in paragraph 1, this IFRS defines...SCOPE 3This IFRS shall be applied by all entities that are...JOINT ARRANGEMENTS 4A joint arrangement is an arrangement of which two or...5A joint arrangement has the following characteristics: 6A joint arrangement is either a joint operation or a...Joint control 7Joint control is the contractually agreed sharing of control of...8An entity that is a party to an arrangement shall...9Once it has been determined that all the parties, or...10In a joint arrangement, no single party controls the arrangement...11An arrangement can be a joint arrangement even though not...12An entity will need to apply judgement when assessing whether...13If facts and circumstances change, an entity shall reassess whether...Types of joint arrangement 14An entity shall determine the type of joint arrangement in...15A joint operation is a joint arrangement whereby the parties...16A joint venture is a joint arrangement whereby the parties...17An entity applies judgement when assessing whether a joint arrangement...18Sometimes the parties are bound by a framework agreement that...19If facts and circumstances change, an entity shall reassess whether...FINANCIAL STATEMENTS OF PARTIES TO A JOINT ARRANGEMENT Joint operations 20A joint operator shall recognise in relation to its interest...21A joint operator shall account for the assets, liabilities, revenues...22The accounting for transactions such as the sale, contribution or...23A party that participates in, but does not have joint...Joint ventures 24A joint venturer shall recognise its interest in a joint...25A party that participates in, but does not have joint...SEPARATE FINANCIAL STATEMENTS 26In its separate financial statements, a joint operator or joint...27In its separate financial statements, a party that participates in,...Appendix ADefined terms Appendix BApplication guidance B1The examples in this appendix portray hypothetical situations. Although some...JOINT ARRANGEMENTS Contractual arrangement (paragraph 5) B2Contractual arrangements can be evidenced in several ways. An enforceable...B3When joint arrangements are structured through a separate vehicle (see...B4The contractual arrangement sets out the terms upon which the...Joint control (paragraphs 7–13) B5In assessing whether an entity has joint control of an...B6After concluding that all the parties, or a group of...B7Sometimes the decision-making process that is agreed upon by the...B8In other circumstances, the contractual arrangement requires a minimum proportion...Application examples Example 1 Example 2 Example 3 B9The requirement for unanimous consent means that any party with...B10A contractual arrangement might include clauses on the resolution of...Assessing joint control B11When an arrangement is outside the scope of IFRS 11,...TYPES OF JOINT ARRANGEMENT (PARAGRAPHS 14–19) B12Joint arrangements are established for a variety of purposes (eg...B13Some arrangements do not require the activity that is the...B14The classification of joint arrangements required by this IFRS depends...Classification of a joint arrangement B15As stated in paragraph B14, the classification of joint arrangements...Structure of the joint arrangement Joint arrangements not structured through a separate vehicle B16A joint arrangement that is not structured through a separate...B17The contractual arrangement often describes the nature of the activities...B18In other cases, the parties to a joint arrangement might...Joint arrangements structured through a separate vehicle B19A joint arrangement in which the assets and liabilities relating...B20Whether a party is a joint operator or a joint...B21As stated in paragraph B15, when the parties have structured...Classification of a joint arrangement: assessment of the parties’ rights...The legal form of the separate vehicle B22The legal form of the separate vehicle is relevant when...B23For example, the parties might conduct the joint arrangement through...B24The assessment of the rights and obligations conferred upon the...Assessing the terms of the contractual arrangement B25In many cases, the rights and obligations agreed to by...B26In other cases, the parties use the contractual arrangement to...Application example Example 4 B27The following table compares common terms in contractual arrangements of...B28When the contractual arrangement specifies that the parties have rights...Assessing other facts and circumstances B29When the terms of the contractual arrangement do not specify...B30A joint arrangement might be structured in a separate vehicle...B31When the activities of an arrangement are primarily designed for...B32The effect of an arrangement with such a design and...Application example Example 5 B33The following flow chart reflects the assessment an entity follows...Classification of a joint arrangement structured through a separate vehicle...FINANCIAL STATEMENTS OF PARTIES TO A JOINT ARRANGEMENT (PARAGRAPH 22)...Accounting for sales or contributions of assets to a joint...B34When an entity enters into a transaction with a joint...B35When such transactions provide evidence of a reduction in the...Accounting for purchases of assets from a joint operation B36When an entity enters into a transaction with a joint...B37When such transactions provide evidence of a reduction in the...Appendix CEffective date, transition and withdrawal of other IFRSs EFFECTIVE DATE C1An entity shall apply this IFRS for annual periods beginning...TRANSITION Joint ventures—transition from proportionate consolidation to the equity method C2When changing from proportionate consolidation to the equity method, an...C3The opening balance of the investment determined in accordance with...C4If aggregating all previously proportionately consolidated assets and liabilities results...C5An entity shall disclose a breakdown of the assets and...C6After initial recognition, an entity shall account for its investment...Joint operations—transition from the equity method to accounting for assets...C7When changing from the equity method to accounting for assets...C8An entity shall determine its interest in the assets and...C9Any difference arising from the investment previously accounted for using...C10An entity changing from the equity method to accounting for...C11The initial recognition exception in paragraphs 15 and 24 of...Transition provisions in an entity’s separate financial statements C12An entity that, in accordance with paragraph 10 of IAS...C13The initial recognition exception in paragraphs 15 and 24 of...References to IFRS 9 C14If an entity applies this IFRS but does not yet...WITHDRAWAL OF OTHER IFRSS C15This IFRS supersedes the following IFRSs: Appendix DAmendments to other IFRSs D1This table shows how the following references have been amended...IFRS 1First-time Adoption of International Financial Reporting Standards D2Paragraph 39I is added as follows: D3Paragraph D1 is amended as follows: D4After paragraph D30, a heading and paragraph D31 are added....Joint arrangements IFRS 2Share-based Payment D5Paragraph 63A is added as follows: IFRS 5Non-current Assets Held for Sale and Discontinued Operations D6Paragraph 28 is amended as follows: D7Paragraph 44G is added as follows: IFRS 7Financial Instruments: Disclosures D8Paragraph 3(a) is amended as follows: D9Paragraph 44O is added as follows: IFRS 9Financial Instruments (as issued in November 2009) D10Paragraph 8.1.2 is added as follows: D11In Appendix C, in paragraph C8, the amendments to paragraph...D12The heading above paragraph C20 and paragraphs C20 and C21...D13The heading above paragraph C22 and paragraphs C22 and C23...IFRS 9Financial Instruments (as issued in October 2010) D14Paragraph 7.1.2 is added as follows: D15In Appendix C, in paragraph C11, the amendments to paragraph...D16The heading above paragraph C25 and paragraphs C25 and C26...D17The heading above paragraph C27 and paragraphs C27 and C28...D18In paragraph C30, the amendments to paragraph 4(a) of IAS...IAS 7Statement of Cash Flows D19[Not applicable to requirements] D20Paragraphs 37 and 38 are amended as follows: D21Paragraph 50(b) is deleted. D22Paragraph 57 is added as follows: IAS 12Income Taxes D23[Not applicable to requirements] D24[Not applicable to requirements] D25Paragraph 39 is amended as follows: D26Paragraph 43 is amended as follows: D27Paragraph 98A is added as follows: IAS 18Revenue D28[Not applicable to requirements] D29Paragraph 41 is added as follows: IAS 21The Effects of Changes in Foreign Exchange Rates D30[Not applicable to requirements] D31In paragraphs 3(b) and 44 ‘proportionate consolidation’ and in paragraph...D32In paragraph 45, ‘IAS 31 Interests in Joint Ventures’ is...D33In paragraph 46 the last sentence is amended as follows:...D34Paragraph 48A is amended as follows: D35Paragraph 60F is added as follows: IAS 24Related Party Disclosures D36Paragraph 3 is amended as follows: D37Paragraph 19 is amended as follows: D38Paragraph 25 is amended as follows: D39Paragraph 28A is added as follows: IAS 32Financial Instruments: Presentation D40Paragraph 4(a) is amended as follows: D41Paragraph 97I is added as follows: IAS 33Earnings per Share D42Paragraph 40 and A11 are amended and paragraph 74B is...IAS 36Impairment of Assets D43Paragraph 140H is added as follows: IAS 38Intangible Assets D44Paragraph 3(e) is amended as follows: D45Paragraph 130F is added as follows: IAS 39Financial Instruments: Recognition and Measurement (as amended at October 2009)...D46Paragraph 2(a) is amended as follows: D47Paragraphs AG3 and AG4I(a) are amended as follows: D48Paragraph 103P is added as follows: IFRIC 5Rights to Interests arising from Decommissioning, Restoration and Environmental Rehabilitation...D49Paragraphs 8 and 9 are amended as follows: D50Paragraph 14B is added as follows: IFRIC 9Reassessment of Embedded Derivatives D51[Not applicable to requirements] D52Paragraph 12 is added as follows: IFRIC 16Hedges of a Net Investment in a Foreign Operation D53The footnote to paragraph 2 is amended as follows: INTERNATIONAL FINANCIAL REPORTING STANDARD 12Disclosure of Interests in Other Entities OBJECTIVE 1The objective of this IFRS is to require an entity...Meeting the objective 2To meet the objective in paragraph 1, an entity shall...3If the disclosures required by this IFRS, together with disclosures...4An entity shall consider the level of detail necessary to...SCOPE 5This IFRS shall be applied by an entity that has...6This IFRS does not apply to: SIGNIFICANT JUDGEMENTS AND ASSUMPTIONS 7An entity shall disclose information about significant judgements and assumptions...8The significant judgements and assumptions disclosed in accordance with paragraph...9To comply with paragraph 7, an entity shall disclose, for...INTERESTS IN SUBSIDIARIES 10An entity shall disclose information that enables users of its...11When the financial statements of a subsidiary used in the...The interest that non-controlling interests have in the group’s activities...12An entity shall disclose for each of its subsidiaries that...The nature and extent of significant restrictions 13An entity shall disclose: Nature of the risks associated with an entity’s interests in...14An entity shall disclose the terms of any contractual arrangements...15If during the reporting period a parent or any of...16If during the reporting period a parent or any of...17An entity shall disclose any current intentions to provide financial...Consequences of changes in a parent’s ownership interest in a...18An entity shall present a schedule that shows the effects...Consequences of losing control of a subsidiary during the reporting...19An entity shall disclose the gain or loss, if any,...INTERESTS IN JOINT ARRANGEMENTS AND ASSOCIATES 20An entity shall disclose information that enables users of its...Nature, extent and financial effects of an entity’s interests in...21An entity shall disclose: 22An entity shall also disclose: Risks associated with an entity’s interests in joint ventures and...23An entity shall disclose: INTERESTS IN UNCONSOLIDATED STRUCTURED ENTITIES 24An entity shall disclose information that enables users of its...25The information required by paragraph 24(b) includes information about an...Nature of interests 26An entity shall disclose qualitative and quantitative information about its...27If an entity has sponsored an unconsolidated structured entity for...28An entity shall present the information in paragraph 27(b) and...Nature of risks 29An entity shall disclose in tabular format, unless another format...30If during the reporting period an entity has, without having...31An entity shall disclose any current intentions to provide financial...Appendix ADefined terms Appendix BApplication guidance B1The examples in this appendix portray hypothetical situations. Although some...AGGREGATION (PARAGRAPH 4) B2An entity shall decide, in the light of its circumstances,...B3An entity may aggregate the disclosures required by this IFRS...B4An entity shall present information separately for interests in: B5In determining whether to aggregate information, an entity shall consider...B6Examples of aggregation levels within the classes of entities set...INTERESTS IN OTHER ENTITIES B7An interest in another entity refers to contractual and non-contractual...B8A reporting entity is typically exposed to variability of returns...B9Some instruments are designed to transfer risk from a reporting...SUMMARISED FINANCIAL INFORMATION FOR SUBSIDIARIES, JOINT VENTURES AND ASSOCIATES (PARAGRAPHS...B10For each subsidiary that has non-controlling interests that are material...B11The summarised financial information required by paragraph B10(b) shall be...B12For each joint venture and associate that is material to...B13In addition to the summarised financial information required by paragraph...B14The summarised financial information presented in accordance with paragraphs B12...B15An entity may present the summarised financial information required by...B16An entity shall disclose, in aggregate, the carrying amount of...B17When an entity’s interest in a subsidiary, a joint venture...COMMITMENTS FOR JOINT VENTURES (PARAGRAPH 23(a)) B18An entity shall disclose total commitments it has made but...B19Unrecognised commitments that may give rise to a future outflow...B20The requirements and examples in paragraphs B18 and B19 illustrate...INTERESTS IN UNCONSOLIDATED STRUCTURED ENTITIES (PARAGRAPHS 24–31) Structured entities B21A structured entity is an entity that has been designed...B22A structured entity often has some or all of the...B23Examples of entities that are regarded as structured entities include,...B24An entity that is controlled by voting rights is not...Nature of risks from interests in unconsolidated structured entities (paragraphs...B25In addition to the information required by paragraphs 29–31, an...B26Examples of additional information that, depending on the circumstances, might...Appendix CEffective date and transition EFFECTIVE DATE AND TRANSITION C1An entity shall apply this IFRS for annual periods beginning...C2An entity is encouraged to provide information required by this...REFERENCES TO IFRS 9 C3If an entity applies this IFRS but does not yet...Appendix DAmendments to other IFRSs IAS 1Presentation of Financial Statements D1Paragraphs 119 and 124 are amended and paragraph 139H is...IAS 24Related Party Disclosures D2Paragraph 15 is amended and paragraph 28A is added as...INTERNATIONAL ACCOUNTING STANDARD 27Separate Financial Statements OBJECTIVE 1The objective of this Standard is to prescribe the accounting...SCOPE 2This Standard shall be applied in accounting for investments in...3This Standard does not mandate which entities produce separate financial...DEFINITIONS 4The following terms are used in this Standard with the...5The following terms are defined in Appendix A of IFRS...6Separate financial statements are those presented in addition to consolidated...7Financial statements in which the equity method is applied are...8An entity that is exempted in accordance with paragraph 4(a)...PREPARATION OF SEPARATE FINANCIAL STATEMENTS 9Separate financial statements shall be prepared in accordance with all...10When an entity prepares separate financial statements, it shall account...11If an entity elects, in accordance with paragraph 18 of...12An entity shall recognise a dividend from a subsidiary, a...13When a parent reorganises the structure of its group by...14Similarly, an entity that is not a parent might establish...DISCLOSURE 15An entity shall apply all applicable IFRSs when providing disclosures...16When a parent, in accordance with paragraph 4(a) of IFRS...17When a parent (other than a parent covered by paragraph...EFFECTIVE DATE AND TRANSITION 18An entity shall apply this Standard for annual periods beginning...References to IFRS 9 19If an entity applies this Standard but does not yet...WITHDRAWAL OF IAS 27 (2008) 20This Standard is issued concurrently with IFRS 10. Together, the...INTERNATIONAL ACCOUNTING STANDARD 28Investments in Associates and Joint Ventures OBJECTIVE 1The objective of this Standard is to prescribe the accounting...SCOPE 2This Standard shall be applied by all entities that are...DEFINITIONS 3The following terms are used in this Standard with the...4The following terms are defined in paragraph 4 of IAS...SIGNIFICANT INFLUENCE 5If an entity holds, directly or indirectly (eg through subsidiaries),...6The existence of significant influence by an entity is usually...7An entity may own share warrants, share call options, debt...8In assessing whether potential voting rights contribute to significant influence,...9An entity loses significant influence over an investee when it...EQUITY METHOD 10Under the equity method, on initial recognition the investment in...11The recognition of income on the basis of distributions received...12When potential voting rights or other derivatives containing potential voting...13In some circumstances, an entity has, in substance, an existing...14IFRS 9 Financial Instruments does not apply to interests in...15Unless an investment, or a portion of an investment, in...APPLICATION OF THE EQUITY METHOD 16An entity with joint control of, or significant influence over,...Exemptions from applying the equity method 17An entity need not apply the equity method to its...18When an investment in an associate or a joint venture...19When an entity has an investment in an associate, a...Classification as held for sale 20An entity shall apply IFRS 5 to an investment, or...21When an investment, or a portion of an investment, in...Discontinuing the use of the equity method 22An entity shall discontinue the use of the equity method...23Therefore, if a gain or loss previously recognised in other...24If an investment in an associate becomes an investment in...Changes in ownership interest 25If an entity’s ownership interest in an associate or a...Equity method procedures 26Many of the procedures that are appropriate for the application...27A group’s share in an associate or a joint venture...28Gains and losses resulting from ‘upstream’ and ‘downstream’ transactions between...29When downstream transactions provide evidence of a reduction in the...30The contribution of a non-monetary asset to an associate or...31If, in addition to receiving an equity interest in an...32An investment is accounted for using the equity method from...33The most recent available financial statements of the associate or...34When, in accordance with paragraph 33, the financial statements of...35The entity’s financial statements shall be prepared using uniform accounting...36If an associate or a joint venture uses accounting policies...37If an associate or a joint venture has outstanding cumulative...38If an entity’s share of losses of an associate or...39After the entity’s interest is reduced to zero, additional losses...Impairment losses 40After application of the equity method, including recognising the associate’s...41The entity also applies IAS 39 to determine whether any...42Because goodwill that forms part of the carrying amount of...43The recoverable amount of an investment in an associate or...SEPARATE FINANCIAL STATEMENTS 44An investment in an associate or a joint venture shall...EFFECTIVE DATE AND TRANSITION 45An entity shall apply this Standard for annual periods beginning...References to IFRS 9 46If an entity applies this Standard but does not yet...WITHDRAWAL OF IAS 28 (2003) 47This Standard supersedes IAS 28 Investments in Associates (as revised...
Commission Regulation (EU) No 1254/2012
of 11 December 2012
amending Regulation (EC) No 1126/2008 adopting certain international accounting standards in accordance with Regulation (EC) No 1606/2002 of the European Parliament and of the Council as regards International Financial Reporting Standard 10, International Financial Reporting Standard 11, International Financial Reporting Standard 12, International Accounting Standard 27 (2011), and International Accounting Standard 28 (2011)
(Text with EEA relevance) (revoked)
F1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Annotations:
Amendments (Textual)
Regulation revoked (31.12.2020) by The International Accounting Standards and European Public Limited-Liability Company (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/685), reg. 1(2), Sch. 2 para. 33 (with reg. 20(2)) (as amended by S.I. 2020/335, regs. 1, 5); 2020 c. 1, Sch. 5 para. 1(1)