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IFRS10

IFRS 10 Consolidated Financial Statements

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

  • 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 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.

Discuss Contract Custom Solution is copyright: IFRS.org Statement of Comprehensive Income Statement of Cash Flows Statement of Financial Position

Hierarchy

IDNameLevelx
IFRSInternational Financial Reporting Standards0IFRS
IFRS10IFRS 10 Consolidated Financial Statements1IFRS10

Term(s)

IDNameClearx
CSCFStatement of Cash FlowsCSCF
CSCIStatement of Comprehensive IncomeCSCI
CSFPStatement of Financial PositionCSFP
IFRS 10 Consolidated Financial Statements International Financial Reporting Standards 00010 1 {{{keywords}}} {{{description}}}