Consolidating 100 owned subsidiary

[IFRS 10:4B] Consolidation procedures Consolidated financial statements: [IFRS 10: B86] A reporting entity includes the income and expenses of a subsidiary in the consolidated financial statements from the date it gains control until the date when the reporting entity ceases to control the subsidiary.Income and expenses of the subsidiary are based on the amounts of the assets and liabilities recognised in the consolidated financial statements at the acquisition date.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 [IFRS 10: B92, IFRS 10: B93] Non-controlling interests (NCIs) A parent presents non-controlling interests in its consolidated statement of financial position within equity, separately from the equity of the owners of the parent.[IFRS ] A reporting entity attributes the profit or loss and each component of other comprehensive income to the owners of the parent and to the non-controlling interests.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 that holds only protective rights cannot have power over an investee and so cannot control an investee [IFRS , IFRS ].

IFRS 10 Consolidated Financial Statements outlines the requirements for the preparation and presentation of consolidated financial statements, requiring entities to consolidate entities it controls.

Please read our cookie notice for more information on the cookies we use and how to delete or block them.

The full functionality of our site is not supported on your browser version, or you may have 'compatibility mode' selected.

The proportion allocated to the parent and non-controlling interests are determined on the basis of present ownership interests.

[IFRS 10: B94, IFRS 10: B89] The reporting entity also attributes total comprehensive income to the owners of the parent and to the non-controlling interests even if this results in the non-controlling interests having a deficit balance.