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IFRS 12 replaced the disclosure requirements in IAS 27 Consolidated and Separate Financial Statements, IAS 28 Investments in Associates and IAS 31 Interests in Joint Ventures. In June 2012 IFRS 12 was amended by Consolidated Financial Statements, Joint Arrangements and Disclosure of Interests in Other Entities: Transition Guidance (Amendments ...
Consolidated Financial Statements, Joint Arrangements and Disclosure of Interests in Other Entities: Transition Guidance (Amendments to IFRS 10, IFRS 11 and IFRS 12) was approved for issue by the fourteen members of the International Accounting Standards Board.
IFRS 12 Disclosure of Interests in Other Entities Effective Date Periods beginning on or after 1 January 2013 SCOPE Applied by entities that have an interest in: Subsidiaries; joint arrangements, associates; and unconsolidated structured entities. IFRS 12 does not apply to: Post-employment benefit plans or other long-term employee
IFRS 12 applies to entities that have an interest in subsidiaries, joint arrangements, associates or unconsolidated structured entities. IFRS 12 establishes disclosure objectives and specifies minimum disclosures that an entity must provide to meet those objectives. An entity should disclose information that helps users of its financial ...
IFRS Accounting Standards are, in effect, a global accounting language—companies in more than 140 jurisdictions are required to use them when reporting on their financial health. The IASB is supported by technical staff and a range of advisory bodies.
recent changes in IFRS Standards • Full text of IFRS Standards • Practical issues faced by reporting entities • Clear explanations of IFRS Standards requirements • Interpretation and commentary when IFRS Standards are silent, ambiguous or unclear • Model financial statements for IFRS reporters
The objective of IFRS 12 as set out in the standard is to require an entity to disclose information that enables users of its financial statements to evaluate: the nature of, and risks associated with, its interests in other entities; and the effects of those interests on its financial position, financial performance and cash flows.
