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International Financial Reporting Standard (IFRS) 12
Disclsoure of Interests in Other Entities

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International Financial Reporting Standard (IFRS) 12

IFRS 12
 
Disclsoure of Interests in Other Entities
--> First issued in May 2011
    
IFRS 12 provides the guidance on the disclosure of information
--> about an entity's interests in
(1) subsidiaries
(2) joint agreements and associates
(3) unconsolidated structured entities
     
IFRS 10 Consolidated Financial Statements
--> A parent entity prepares consolidated financial statements.
      
IFRS 11 Joint Arrangements
--> A venturer applies equity method to the investment in a joint venture.
     
Joint control is contractually agreed sharing of control
--> of an arrangement              

Structured entity is an entity where
--> voting rights are not the dominant factor
--> to decide who controls the entity.
    
An example of a structured entity:
--> Administrative tasks are determined by voting rights and
--> other activities are directed by contractual arrangements.
  


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