WWW.THESIS.DISLIB.INFO
FREE ELECTRONIC LIBRARY - Online materials, documents
 
<< HOME
CONTACTS



Pages:     | 1 |   ...   | 5 | 6 ||

«AASB Standard AASB 10 August 2011 Consolidated Financial Statements Obtaining a Copy of this Accounting Standard This Standard is available on the ...»

-- [ Page 7 ] --

B90 In some circumstances an entity has, in substance, an existing ownership interest as a result of a transaction that currently gives the entity access to the returns associated with an ownership interest. In such circumstances, the proportion allocated to the parent and noncontrolling interests in preparing consolidated financial statements is determined by taking into account the eventual exercise of those potential voting rights and other derivatives that currently give the entity access to the returns.

B91 AASB9 does not apply to interests in subsidiaries that are consolidated.

When instruments containing potential voting rights in substance currently give access to the returns associated with an ownership interest in a subsidiary, the instruments are not subject to the requirements of AASB 9. In all other cases, instruments containing potential voting rights in a subsidiary are accounted for in accordance with AASB 9.

Reporting date B92 The financial statements of the parent and its subsidiaries used in the preparation of the consolidated financial statements shall have the same reporting date. When the end of the reporting period of the parent is different from that of a subsidiary, the subsidiary prepares, for consolidation purposes, additional financial information as of the same date as the financial statements of the parent to enable the parent to consolidate the financial information of the subsidiary, unless it is impracticable to do so.

B93 If it is impracticable to do so, the parent shall consolidate the financial information of the subsidiary using the most recent financial statements of the subsidiary adjusted for the effects of significant transactions or events that occur between the date of those financial statements and the date of the consolidated financial statements. In any case, the difference between the date of the subsidiary’s financial statements and that of the consolidated financial statements shall be no more than three months, and the length of the reporting periods and any AASB 10 APPENDIX B difference between the dates of the financial statements shall be the same from period to period.

Non-controlling interests B94 An entity shall attribute the profit or loss and each component of other comprehensive income to the owners of the parent and to the noncontrolling interests. The entity shall also attribute total comprehensive income to the owners of the parent and to the noncontrolling interests even if this results in the non-controlling interests having a deficit balance.

B95 If a subsidiary has outstanding cumulative preference shares that are classified as equity and are held by non-controlling interests, the entity shall compute its share of profit or loss after adjusting for the dividends on such shares, whether or not such dividends have been declared.

Changes in the proportion held by non-controlling interests

B96 When the proportion of the equity held by non-controlling interests changes, an entity shall adjust the carrying amounts of the controlling and non-controlling interests to reflect the changes in their relative interests in the subsidiary. The entity shall recognise directly in equity any difference between the amount by which the non-controlling interests are adjusted and the fair value of the consideration paid or received, and attribute it to the owners of the parent.

Loss of control B97 A parent might lose control of a subsidiary in two or more arrangements (transactions). However, sometimes circumstances indicate that the multiple arrangements should be accounted for as a single transaction. In determining whether to account for the arrangements as a single transaction, a parent shall consider all the terms and conditions of the arrangements and their economic effects.

One or more of the following indicate that the parent should account

for the multiple arrangements as a single transaction:

–  –  –

(c) reclassify to profit or loss, or transfer directly to retained earnings if required by other Standards, the amounts recognised in other comprehensive income in relation to the subsidiary on the basis described in paragraph B99.

–  –  –

B99 If a parent loses control of a subsidiary, the parent shall account for all amounts previously recognised in other comprehensive income in relation to that subsidiary on the same basis as would be required if the parent had directly disposed of the related assets or liabilities.

Therefore, if a gain or loss previously recognised in other comprehensive income would be reclassified to profit or loss on the AASB 10 APPENDIX B disposal of the related assets or liabilities, the parent shall reclassify the gain or loss from equity to profit or loss (as a reclassification adjustment) when it loses control of the subsidiary. If a revaluation surplus previously recognised in other comprehensive income would be transferred directly to retained earnings on the disposal of the asset, the parent shall transfer the revaluation surplus directly to retained earnings when it loses control of the subsidiary.

–  –  –

Effective date C1 [Deleted by the AASB – see paragraphs Aus3.2 and Aus3.3] Transition C2 An entity shall apply this Standard retrospectively, in accordance with AASB 108 Accounting Policies, Changes in Accounting Estimates and Errors, except as specified in paragraphs C3–C6.





C3 When applying this Standard for the first time, an entity is not required

to make adjustments to the accounting for its involvement with either:

(a) entities that were previously consolidated in accordance with AASB 127 Consolidated and Separate Financial Statements and Interpretation 112 Consolidation – Special Purpose Entities and, in accordance with this Standard, continue to be consolidated; or (b) entities that were previously unconsolidated in accordance with AASB 127 and Interpretation 112 and, in accordance with this Standard, continue not to be consolidated.

C4 When application of this Standard for the first time results in an investor consolidating an investee that was not consolidated in

accordance with AASB 127 and Interpretation 112 the investor shall:

(a) if the investee is a business (as defined in AASB 3), measure the assets, liabilities and non-controlling interests in that previously unconsolidated investee on the date of initial application as if that investee had been consolidated (and thus applied acquisition accounting in accordance with AASB 3) from the date when the investor obtained control of that investee on the basis of the requirements of this Standard.

(b) if the investee is not a business (as defined in AASB 3), measure the assets, liabilities and non-controlling interests in that previously unconsolidated investee on the date of initial application as if that investee had been consolidated (applying

–  –  –

The investor shall recognise any difference between the amount of assets, liabilities and non-controlling interests recognised at the deemed acquisition date and any previously recognised amounts from its involvement as an adjustment to equity for that period. In addition, the investor shall provide comparative information and disclosures in accordance with AASB 108.

C5 When application of this Standard for the first time results in an investor no longer consolidating an investee that was consolidated in accordance with AASB 127 (as amended in 2008) and Interpretation 112, the investor shall measure its retained interest in the investee on the date of initial application at the amount at which it would have been measured if the requirements of this Standard had been effective when the investor became involved with, or lost control of, the investee. If measurement of the retained interest is impracticable (as defined in AASB 108), the investor shall apply the requirements of this Standard for accounting for a loss of control at the beginning of the earliest period for which application of this Standard is practicable, which may be the current period. The investor shall recognise any difference between the previously recognised amount of the assets, liabilities and non-controlling interest and the carrying amount of the investor’s involvement with the investee as an

–  –  –

C6 Paragraphs 23, 25, B94 and B96–B99 were amendments to AASB 127 made in 2008 that were carried forward into AASB 10. Except when an entity applies paragraph C3, the entity shall apply the requirements

in those paragraphs as follows:

(a) An entity shall not restate any profit or loss attribution for reporting periods before it applied the amendment in paragraph B94 for the first time.

(b) The requirements in paragraphs 23 and B96 for accounting for changes in ownership interests in a subsidiary after control is obtained do not apply to changes that occurred before an entity applied these amendments for the first time.

(c) An entity shall not restate the carrying amount of an investment in a former subsidiary if control was lost before it applied the amendments in paragraphs 25 and B97–B99 for the first time.

In addition, an entity shall not recalculate any gain or loss on the loss of control of a subsidiary that occurred before the amendments in paragraphs 25 and B97–B99 were applied for the first time.

References to AASB 9 C7 If an entity applies this Standard but does not yet apply AASB 9, any reference in this Standard to AASB 9 shall be read as a reference to AASB 139 Financial Instruments: Recognition and Measurement.

Withdrawal of other IFRSs C8 [Deleted by the AASB – see paragraph Aus3.5(a)] C9 [Deleted by the AASB – see paragraph Aus3.5(b)]

–  –  –

Exemption from Presenting Consolidated Financial Statements AG1 The following table summarises the circumstances in which the exemption from presenting consolidated financial statements set out in paragraphs 4-Aus4.2 of this Standard may be available to a parent entity. The exemption is available only if the requirements of those paragraphs are satisfied. For example, the exemption is not available to a parent entity if it is a disclosing entity.

–  –  –

FP = for-profit entity NFP = not-for-profit entity * The exemption would not be available by reference to the intermediate parent when it is a for-profit public sector entity unable to claim compliance with IFRSs – see paragraph Aus16.2 of AASB 101 Presentation of Financial Statements.

^ When the parent entity’s NFP ultimate or intermediate parent is able to claim compliance with IFRSs, the exemption is available.

AASB 10 GUIDANCE DELETED IFRS 10 TEXT Deleted IFRS 10 text is not part of AASB 10.

Paragraph C1 An entity shall apply this IFRS for annual periods beginning on or after 1 January 2013. Earlier application is permitted. If an entity applies this IFRS earlier, it shall disclose that fact and apply IFRS 11, IFRS 12, IAS 27 Separate Financial Statements and IAS 28 (as amended in 2011) at the same time.

Paragraph C8 This IFRS supersedes the requirements relating to consolidated financial statements in IAS 27 (as amended in 2008).

Paragraph C9 This IFRS also supersedes SIC-12 Consolidation – Special Purpose Entities.

Pages:     | 1 |   ...   | 5 | 6 ||


Similar works:

«Leaving the Priesthood There are 41,500 Diocesan and Religious priests in the United States today. During the past 60 years 25,000 priests have left the priesthood in the United States and over 120,000 priests worldwide have left. The purpose of this website is to provide information about challenges Roman Catholic priests encounter and the need for reform. It provides a forum for priests who have left the priesthood to share why they left and what they have learned through the process. At the...»

«MKTG-UB.1.1.004.FA14: INTRODUCTION TO MARKETING Assoc. Prof. Ambar Machfoedy Fall 2014 Welcome to Introduction to Marketing. I look forward to meeting you in our first class on September 2, 2014 and getting to know you during the Fall semester. Here is the preliminary course syllabus. Almost all of the details you need on the course are here. If you have the time, you may want to read it before class starts. It contains helpful information on the course objectives, what you will learn in the...»

«ROYAL CANADIAN SEA CADET  SAILING PROGRAM Sailing to Win Sailing for Life La voile pour la victoire La voile pour la vie FOREWORD Sail Canada (formerly Canadian Yachting Association) Established in 1931, Sail Canada (www.sailing.ca) is Canada’s national  governing body for the sport of sailing.  They promote sailing through  collaboration with various partners including Provincial Sailing Associations  and the Canadian Cadet Organizations (CCO).  ...»

«OFFICE OF THE STATE CORONER FINDINGS OF INQUEST CITATION: Inquest into the death of Benjamin Richard WARE TITLE OF COURT: Coroner’s Court LOCATION: Cairns FILE NO: 2009/2059 DELIVERED ON: 28 March, 2013 DELIVERED AT: Cairns HEARING DATES: 8 Oct 09; 27 Oct 09; 28 Jul 10; 11 Aug 10; 20 Oct 11; 14 Aug 12 FINDINGS OF: Kevin Priestly, Coroner CATCHWORDS: Coroners: inquest, apparently intoxicated person admitted to Diversionary Centre during evening, failed to wake next morning, later found...»

«REPORT OF THE BOARD OF SELECTMEN The Sutton Board of Selectmen (the Board) herewith submits their annual Town Report for 2008. The year began with the 2007 May Town election. The election resulted in the election of John Hebert to the Board. Mr. Hebert replaced Robert Kneeland who served the Town for 9 years as a member of the Board. The Board wishes to thank Mr. Kneeland for his dedication and service to the Town of Sutton. Shortly after the election, the Board of Selectmen reorganized. Mr....»

«LIST OF WAREHOUSES CANCELED AND/OR TERMINATED DURING CALENDAR YEAR 2002 United States Department of Agriculture COTTON Farm and Foreign Agricultural ALABAMA Services Farm Service Town Creek; Mauldin Brothers’ Warehouse; Edward Fennel Mauldin, Jr. and Agency Leonard Preuit Mauldin Copartners, trading as Mauldin Brothers’ Warehouse. 1400 Independence Warehouse sold. Ave, SW Stop 0553 Washington, DC ARKANSAS 20250-0553 Dell; Stevens Gin Company Warehouse; Stevens Gin Company. Warehouse...»

«October 25, 2016 William D. Aaron, Jr. William M. Carrouche Leander J. Foley, III John F. French Leon L. Giorgio, Jr. Shivan Govindan L. Blake Jones Louis V. Lauricella Mark G. Merlo Ashton J. Ryan, Jr. Charles C. Teamer Joseph F. Toomy First NBC Bank Holding Company 210 Baronne Street New Orleans, Louisiana 70112 Dear Board of Directors: WHY ARE WE ADDRESSING THIS LETTER TO THE BOARD AND NOT THE CEO? Our prior letters1 were addressed to First NBC Bank Holding Company’s (“FNBC”) CEO...»

«KENNZEICHNUNG UND ETIKETTIERUNG Inhalt Pol Meuleneire 1. Kennzeichnung 1.1 Warum müssen bestimmte Exemplare gekennzeichnet werden?1.2 Kennzeichnung von lebenden Wirbeltieren, die in Anhang A aufgeführt sind 1.3 Spezifische Kennzeichnungsmethoden, die für lebende Exemplare von in Gefangenschaft gezüchteten Anhang A-Arten zugelassen sind 1.4 Ausnahmen von den Bestimmungen zur Kennzeichnung und die Verwendung von alternativen Kennzeichnungsmethoden 1.5 Beispiele für alternative...»

«201 CARTE, GEOLOGIQUE DE LA FRANCE, A1/50 000, OLSA -L 0 pl' L. CHAURIS, É. MARCOUX, È. LE GOFF, D. THIÉBLEMONT, A. CARN SAINT-POL-DE-LÉON la carte géologique à 1/50 ()()() SAINT-POl-DE-LÉON est recouverte par les coupures suivantes de la carte géologique de la France à 1180 ()()() : au Nord-Ouest : PlOUGUER EAU-ILE D'OUESSANT (N 40) au Nord-Est: LANNION (N 41) au Sud-Est: MORLAIX (Nase) MINISTÈRE DE L'ÉDUCATION NATIONALE. DE LA RECHERCHE ET DE LA TECHNOLOGIE MINISTÈRE DE...»

«CAM2 Mixer/Pre-Amplifier Installation and Use Manual © 2003 Bogen Communications, Inc. All rights reserved. Specifications subject to change. 54-2039-01C Printed in Korea. 0306 Notice Applications Assistance Every effort was made to ensure that the information in this Our Applications Engineering Department is available to assist guide was complete and accurate at the time of printing. you from 8:30 A.M. to 6:00 P.M. and on call until 8:00 P.M., However, information is subject to change....»

«WENTWORTH SHIRE COUNCIL ORDINARY MEETING MINUTES 17 AUGUST 2016 ORDINARY MEETING MINUTES CONFIRMED 17 AUGUST 2016 TABLE OF CONTENTS ITEM SUBJECT PAGE NO 1 OPENING OF MEETING AND PRAYER 2 PRESENT 3 APOLOGIES AND LEAVE OF ABSENCE 4 CONFIRMATION OF MINUTES OF PREVIOUS MEETING 5 DECLARATIONS OF PECUNIARY INTEREST AND CONFLICTS OF INTEREST 6 PETITIONS, MEMORIALS AND QUESTIONS FROM THE PUBLIC Nil 7 MAYORAL REPORTS 7.1 Mayoral Report 7.2 End of Term Report Progress in Implementing the Community...»

«DOCUMENT RESUME ED 335 944 FL 019 447 AUTHOR Heath, Shirley Brice; Mangiola, Linda TITLE Children of Promise: Literate Activity in Linguistically and Culturally Diverse Classrooms. NEA School Restructuring Series. INSTITUTION American Educational Research Association, Washingt.on, D.C.; Center for the Study of Writing, Berkeley, CA.; National Education Association, Washington, D.C. REPORT NO ISBN-0-8106-1844-3 PUB DATE Jun 91 NOTE 66p. AVAILABLE FROM National Education Association, Professional...»





 
<<  HOME   |    CONTACTS
2017 www.thesis.dislib.info - Online materials, documents

Materials of this site are available for review, all rights belong to their respective owners.
If you do not agree with the fact that your material is placed on this site, please, email us, we will within 1-2 business days delete him.