Page 5 - PowerPoint Presentation

CONSOLIDATIONS AFTER THE DATE OF ACQUISITION

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.

5