What is IFRS 10 (IFRS 10)?
What is IFRS 10 (IFRS 10)?
IFRS 10 is a new standard which supersedes IAS 27 Consolidated and Separate Financial Statements (“IAS 27”) and SIC-12 Consolidation – Special Purpose Entities (“SIC- 12”).
What is the exemption from consolidation under IFRS 10?
In addition, IFRS 10 provides an exemption from consolidation for an entity that meets the definition of an “investment entity” (such as certain investment or mutual funds). The guidance in IFRS 10 is focused on when to prepare consolidated financial statements and how to prepare consolidated financial statements.
What is the difference between IAS 27 and IAS 10?
About IFRS 10 IFRS 10 is a new standard which supersedes IAS 27 Consolidated and Separate Financial Statements (“IAS 27”) and SIC-12 Consolidation – Special Purpose Entities (“SIC- 12”). The primary goal behind the new standard was to come up with a single model for control which could be applied to all entities.
