Page 11 - Topic 1 - 1. Consolidated & Separate Financial Statement

CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
Applicable Standards

• IFRS 3

• Business Combinations deals with the accounting treatment
and initial determination of the value attached to the

subsidiary being acquired on the date of acquisition.

• This standard deals with the methods of accounting for

business combinations and their effects on consolidation,

including goodwill (or gain on bargain purchase) arising on a

business combination.

• IFRS 10

• Consolidated Financial Statements deals with the

consolidation procedures and accounting treatment after the

date of acquisition.

• This standard deals with the preparation and presentation of

consolidated financial statements for a group of entities
under the control of a parent.
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