MFRS 10 - MFRS 10 effective 1 January 2013 Consolidated...

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NAMG Sem 1 2016/17 1 MFRS 10 effective 1 January 2013 Consolidated Financial Statements
Who has to present consolidated financial statements? A parent , other than a parent described in paragraph 4 (a) (i) – (iv), shall present consolidated financial statements in which it consolidates its investments in subsidiaries in accordance with this Standard. NAMG Sem 1 2016/17 2
Exemption to prepare consolidated financial statements – para 4 (a) (i) Parent is a wholly owned or partially owned and the other shareholders do not object to the parent not presenting consolidated financial statements. (ii) Parent’s debt or equity are not traded in a public market. (iii) Parent is not in a process of issuing any class of shares or debts in a public market. (iv) Ultimate parent or intermediate parent publishes consolidated financial statements. NAMG Sem 1 2016/17 3
NAMG Sem 1 2016/17 4 Definitions What are consolidated financial statements? - The financial statements of a group in which the assets,

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