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NAMGSem 1 2016/171MFRS 10– effective 1 January 2013Consolidated 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.NAMGSem 1 2016/172
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.NAMGSem 1 2016/173
NAMGSem 1 2016/174DefinitionsWhat are consolidated financial statements? - The financial statements of a groupin which the assets,