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Statements (including
investment entities) and related
disclosures in IFRS 12
IFRS Foundation
Agenda
IFRS Foundation
Objective of consolidated
financial statements and
the link to the conceptual
framework
IFRS Foundation
Introduction
Why consolidation?
8 8
Fundamental
qualitative
characteristics
Faithfully
represents
economic
phenomena
Consolidated
financial
information
(A+B+C)
Other
creditors
Lenders
Investors
ECONOMIC ENTITY
ENTITY A
(INVESTOR)
CONTROLS
ENTITY B
CONTROLS
ENTITY C
IFRS Foundation
Investment in D is
an asset in As
statement of
financial position
ENTITY D
IFRS Foundation
11
IFRS Foundation
Scope, concepts,
requirements and
examples
IFRS Foundation
Scope of IFRS 10
13
Interaction:
14
Control alone?
yes
no
Consolidation in accordance
with IFRS 10
Joint control?
yes
no
Joint Venture
Significant
influence?
yes
no
IFRS 9
(or IAS 39)
Disclosures in
accordance with
IFRSs 7 and 13
IFRS Foundation
15
16
IFRS Foundation
17
Power
Link
powerreturns
control
IFRS Foundation
Rights
Relevant
activities
18
EXPOSURE
LINK
Exposure
(or rights) to
variable
returns of
the investee
Ability to
use power
over the
investee to
affect its
own returns
IFRS Foundation
Rights
Relevant
activities
19
20
Powerrights
21
IFRS Foundation
Powerrights
22
Voting rights
Potential voting rights
Contractual rights
Removal or kick out rights
An investor that holds only protective rights does not
have power
IFRS Foundation
23
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24
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25
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26
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27
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28
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29
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30
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31
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32
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33
IFRS Foundation
Powerrelevant activities
34
35
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36
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37
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38
IFRS Foundation
39
IFRS Foundation
Rights
Relevant
activities
40
EXPOSURE
LINK
Exposure
(or rights) to
variable
returns of
the investee
Ability to
use power
over the
investee to
affect its
own returns
IFRS Foundation
Exposure
(or rights) to
variable
returns of
the investee
41
42
43
IFRS Foundation
Rights
Relevant
activities
44
EXPOSURE
LINK
Exposure
(or rights) to
variable
returns of
the investee
Ability to
use power
over the
investee to
affect its
own returns
IFRS Foundation
Ability to
use power
over the
investee to
affect its
own returns
45
46
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47
48
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49
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50
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51
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52
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54
55
Provide funding
Receive interest
from debt
instruments
IFRS Foundation
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57
Disclosures
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59
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60
61
62
Significant restrictions:
acess or use of assets
settlement of liabilities
IFRS Foundation
63
64
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Investment entities
IFRS Foundation
66
67
68
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69
70
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71
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72
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Effective date
74 74
IFRS Foundation
Transition relief
75
IFRS Foundation