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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 .
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 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.
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 September 2014 guide helps you to prepare financial statements in accordance with IFRS, illustrating one possible format for financial statements based on a fictitious multinational corporation; the corporation is not a first-time adopter of IFRS.
IFRS 12 Disclosure of Interest in Other Entities. Overview. IFRS 12 requires all disclosures that were previously required by IAS 27 Consolidated Financial Statements, IAS 31 Interest in Joint Ventures and IAS 28 Investment in Associates.
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.
