Page 8 - PowerPoint Presentation

CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS

Outcomes

• Define control (IFRS 10 Appendix A and IFRS 10.5-.18)

• Identify situations in which consolidated financial statements should be
presented and the scope of consolidated financial statements (IFRS

10.4).

• Apply the consolidation procedure (IFRS 10.19-.24 and IFRS 10.B86-

.B96) including:

• Elimination of the parent’s investment in the subsidiary;

• Account for non-controlling interests in the profit or loss of consolidated
subsidiaries;

• Account for non-controlling interests in the net assets of consolidated

subsidiaries;
• Elimination of intragroup balances, transactions, income and expenses;

• Use of uniform accounting policies;

• Use of the same end of reporting period date; and

• Presentation of non-controlling interests in the statement of financial position.

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