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What does IFRS 10 mean for investment entities?
What are the accounting requirements in IFRS 10 for investment entities?
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IFRS 10 is the International Financial Reporting Standard that sets out the principles and requirements for consolidating subsidiaries and joint arrangements. It also defines an investment entity and provides an exception to consolidation for certain subsidiaries of investment entities.
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Learn how to apply the IFRS 10 exception for investment entities that do not consolidate their subsidiaries. See the definition, typical characteristics and examples of investment entities.
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- Objective
- Key DeFINITions
- Control
- Accounting requirements
- Investment Entities ConSolIDaTion Exemption
- Disclosure
- ApPlicABilIty and Early Adoption
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The objective of IFRS 10 is to establish principles for the presentation and preparation of consolidated financial statements when an entity controls one or more other entities. [IFRS 10:1] The Standard: [IFRS 10:1] 1. requires a parent entity (an entity that controls one or more other entities) to present consolidated financial state...
[IFRS 10:Appendix A] Consolidated financial statements 1. The financial statements of a group in which the assets, liabilities, equity, income, expenses and cash flows of the parent and its subsidiaries are presented as those of a single economic entity Control of an investee 1. An investor controls an investee when the investor is expose...
An investor determines whether it is a parent by assessing whether it controls one or more investees. An investor considers all relevant facts and circumstances when assessing whether it controls an investee. An investor controls an investee when it is exposed, or has rights, to variable returns from its involvement with the investee and has ...
Preparation of consolidated financial statements A parent prepares consolidated financial statements using uniform accounting policies for like transactions and other events in similar circumstances. [IFRS 10:19] However, a parent need not present consolidated financial statements if it meets all of the following conditions: [IF...
[Note: The investment entity consolidation exemption was introduced by Investment Entities, issued on 31 October 2012 and effective for annual periods beginning on or after 1 January 2014.] IFRS 10 contains special accounting requirements for investment entities. Where an entity meets the definition of an 'investment entity' (s...
There are no disclosures specified in IFRS 10. Instead, IFRS 12 Disclosure of Interests in Other Entitiesoutlines the disclosures required.
Note: This section has been updated to reflect the amendments to IFRS 10 made in June 2012 and October 2012. IFRS 10 is applicable to annual reporting periods beginning on or after 1 January 2013 [IFRS 10:C1]. Retrospective application is generally required in accordance with IAS 8 Accounting Policies, Changes in Accounting Estimates an...
Learn about the requirements and exceptions for consolidating entities under IFRS 10, the standard for consolidated financial statements. Find out the definition of control, the key terms and examples, and the history and amendments of the standard.
Jan 23, 2013 · The amendment to IFRS 10 defines an investment entity and introduces an exception to consolidation. The amendments to IFRS 12 introduce disclosures that an investment entity needs to make. The amendments apply for annual periods beginning on or after 1 January 2014; earlier application is permitted. Key features of the guidance.
Project Summary and Feedback Statement. Investment Entities (Amendments to IFRS 10, IFRS 12 and IAS 27) At a glance. It has been a longstanding requirement in IFRS that a reporting entity must present fi nancial statements consolidating all of its subsidiaries.
May 2, 2024 · Learn how to prepare consolidated financial statements in accordance with IFRS 10, which present the financial position and performance of a parent entity and its subsidiaries as a single economic entity. Understand the criteria and examples of control, exposure, and rights over an investee.
• IFRS 10 includes extensive guidance on whether an investor is a principal or an agent. An investor engaged primarily to act on behalf of other parties (ie an agent) does not control the investee. • when the parent is an investment entity, IFRS 10 provides an exception to the consolidation requirement. Under control?
