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Commission Regulation (EU) 2015/2441Show full title

Commission Regulation (EU) 2015/2441 of 18 December 2015 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 Accounting Standard 27 (Text with EEA relevance)

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Consequential amendments to other Standards IFRS 1 First-time Adoption of International Financial Reporting Standards

Paragraph 39Z is added.

EFFECTIVE DATE

…

39Z Equity Method in Separate Financial Statements (Amendments to IAS 27), issued in August 2014, amended paragraph D14 and added paragraph D15A. An entity shall apply those amendments for annual periods beginning on or after 1 January 2016. Earlier application is permitted. If an entity applies those amendments for an earlier period, it shall disclose that fact.

In Appendix D, paragraph D14 is amended and paragraph D15A is added.

Investments in subsidiaries, joint ventures and associates
D14When an entity prepares separate financial statements, IAS 27 requires it to account for its investments in subsidiaries, joint ventures and associates either:
(a)

at cost;

(b)

in accordance with IFRS 9; or

(c)

using the equity method as described in IAS 28.

…

D15AIf a first-time adopter accounts for such an investment using the equity method procedures as described in IAS 28:
(a)

the first-time adopter applies the exemption for past business combinations (Appendix C) to the acquisition of the investment.

(b)

if the entity becomes a first-time adopter for its separate financial statements earlier than for its consolidated financial statements, and

(i)

later than its parent, the entity shall apply paragraph D16 in its separate financial statements.

(ii)

later than its subsidiary, the entity shall apply paragraph D17 in its separate financial statements.

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