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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
The IASB is an independent standard-setting body within the IFRS Foundation. 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.
Background. New IFRS 10 and IFRS 11 Users requested more information about an entity’s interest in other entities Global financial crisis put emphasis on the project Integrate disclosures into a single standard Local regulatory changes. Objectives.
IFRS 12 Disclosure of Interests in Other Entities sets out the disclosure requirements for entities that have an interest in a subsidiary, a joint arrangement, an associate or an unconsolidated structured entity. This page provides information on the standard and amendments, with ICAEW factsheets.
IFRS 12 - Free download as PDF File (.pdf), Text File (.txt) or read online for free. This document provides an overview of IFRS 12 Disclosure of Interests in Other Entities. Key points include: - IFRS 12 specifies disclosure requirements for interests in subsidiaries, joint arrangements, associates, and unconsolidated structured entities.
