Ifrs10

IFRS 10

International Financial Reporting Standard 10

Consolidated Financial Statements

In April 2001 the International Accounting Standards Board (IASB) adopted IAS 27 Consolidated Financial Statements and Accounting for Investments in Subsidiaries, which had originally been issued by the International Accounting Standards Committee in April 1989. IAS 27 replaced most of IAS 3 Consolidated Financial Statements (issued in June 1976). In December 2003, the IASB amended and renamed IAS 27 with a new title—Consolidated and Separate Financial Statements. The amended IAS 27 also incorporated the guidance contained in two related Interpretations (SIC-12 Consolidation-Special Purpose Entities and SIC-33 Consolidation and Equity Method—Potential Voting Rights and Allocation of Ownership Interests). In June 2008, the IASB amended IAS 27. This amendment, which related to accounting for non-controlling interests and the loss of control of subsidiaries, was done in conjunction with amendments to IFRS 3 Business Combinations. In May 2011 the IASB issued IFRS 10 Consolidated Financial Statements to replace IAS 27. IFRS 12 Disclosure of Interests in Other Entities, also issued in May 2011, replaced the disclosure requirements in IAS 27. IFRS 10 incorporates the guidance contained in two related Interpretations (SIC-12 Consolidation-Special Purpose Entities and SIC-33 Consolidation). In June 2012, IFRS 10 was amended by Consolidated Financial Statements, Joint Arrangements and Disclosure of Interests in Other Entities: Transition Guidance (Amendments to IFRS 10, IFRS 11 and IFRS 12). These amendments clarified the transition guidance in IFRS 10. Furthermore, these amendments provided additional transition relief in IFRS 10, limiting the requirement to present adjusted comparative information to only the annual period immediately preceding the first annual period for which IFRS 10 is applied.

IFRS Foundation

A371

IFRS 10

CONTENTS

from paragraph INTRODUCTION IN1...