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Assessment of the purpose and design of an investee. IFRS® is the IFRS Foundation’s registered Trade Mark and is used by Simlogic, s.r.o 0000005254 00000 n

The International Financial Reporting Standards Foundation is a not-for-profit corporation incorporated in the State of Delaware, United States of America, with the Delaware Division of Companies (file no: 3353113), and is registered as an overseas company in England and Wales (reg no: FC023235). An investor would reassess whether it controls an investee if there is a change in facts and circumstances.

© 2001-2019 PwC. © 2020. 0000049764 00000 n 0000005966 00000 n

0000001176 00000 n IFRS 10 requires continuous assessment of control of an investee. IFRS 10 has a single definition of control. The definition of control includes 3 elements; power over an investee; exposure or rights to variable returns of the investee; and the ability to use power over the investee to affect the investor’s returns. You can view which cookies are used by viewing the details in our privacy policy.

Element of control: the ability to use power over the investee to affect the investor’s returns. All Rights Reserved. Has the ability to affect those returns through its power over the investee.

This reassessment will be made based on changes in facts and circumstances but would be visited at least once in each reporting period.

Rights to direct the relevant activities do not need to be exercised for them to provide an investor power.

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IFRS 10 replaces the consolidation requirements in IAS 27, Consolidated and Separate Financial Statements, and SIC-12 Consolidation - Special Purpose Entities. Chartered Professional Accountants of Canada (CPA Canada) has identified these external resources to help you better understand IFRS 10, which establishes principles for the presentation and preparation of consolidated financial statements when an entity controls one or more other entities. Relevant activities and power to direct those. under licence during the term and subject to the conditions contained therein. IFRS 10 does not contain any disclosure requirements; these are included within IFRS 12. IFRS 10 provides guidance on the following issues when determining who has control: In difficult situations, the precise facts and circumstances will affect the analysis under IFRS 10.

IFRS 10 also contains special accounting requirements for. Copyright © 2009-2020 Simlogic, s.r.o. The effective date is for annual periods beginning on or after January 1, 2013. IFRS 10 identifies the following 3 elements of control: (i) power over the investee; (ii) exposure, or rights, to variable returns from involvement with the investee; and (iii) the ability to use power over the investee to affect the investor’s returns. IFRS 10 applies to all investees and replaces the previous models for determining control found in IAS 27 and the interpretive guidance for special purpose entities found in SIC-12.

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