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IFRS 10 Consolidated Financial Statements establishes principles for presenting and preparing consolidated financial statements when an entity controls one or more other entities.

IFRS 10 Consolidated Financial Statements

• Requires an entity (the parent) that controls one or more other entities (subsidiaries) to present consolidated financial statements;
• Defines the principle of control, and establishes control as the basis for consolidation;
• Sets out how to apply the principle of control to identify whether an investor controls an investee (entity) and therefore must consolidate the investee;
• Sets out the accounting requirements for the preparation of consolidated financial statements; and
• Defines an investment entity and sets out an exception to consolidating particular subsidiaries of an investment entity.

Consolidated financial statements are financial statements that present the assets, liabilities, equity, income, expenses and cash flows of a parent and its subsidiaries as those of a single economic entity.

IFRS 10 Consolidated Financial Statements is Copyright: IFRS Foundation Statement of Comprehensive Income Statement of Cash Flows Statement of Financial Position

Hierarchy

ID	Name	Level	x
IFRS	International Financial Reporting Standards	0	IFRS
IFRS10	IFRS 10 Consolidated Financial Statements	1	IFRS10

Term(s)

ID	Name	Clear	x
CSCF	Statement of Cash Flows		CSCF
CSCI	Statement of Comprehensive Income		CSCI
CSFP	Statement of Financial Position		CSFP

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