Methods of consolidating subsidiaries amigos con beneficios dating site
This is sometimes described as a "one-line consolidation".
Accounting for consolidated entities is more complicated because it requires journal entries to eliminate the subsidiary's equity, eliminate any intercompany transactions, and record any minority interest in the subsidiary.
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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.
[IFRS 10: B88] The parent and subsidiaries are required to have the same reporting dates, or consolidation based on additional financial information prepared by subsidiary, unless impracticable.
[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.
Where impracticable, the most recent financial statements of the subsidiary are used, adjusted for the effects of significant transactions or events between the reporting dates of the subsidiary and consolidated financial statements.
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 10:1] The Standard: [IFRS 10:1] An investor controls an investee when the investor is exposed, or has rights, to variable returns from its involvement with the investee and has the ability to affect those returns through its power over the investee * Added by Investment Entities amendments, effective 1 January 2014.
An investor determines whether it is a parent by assessing whether it controls one or more investees.