IFRS Notes

Proportionate consolidation


IAS 31-pr33
Proportionate consolidation
A venturer includes the following it its financial statements:

(1) its share of assets of jointly controlled entities
(2) its share of liabilities of jointly controlled entities
(3) its share of income of jointly controlled entities
(4) its share of expenses of jointly controlled entities


IAS 31-pr34
Reporting formats
Both reporting format 1 and format 2
are accepted by IAS 31.

Format 1
Combine its share of (1)
with similar items in its financial statements,
line by line
(1) assets, liabilities, income, expenses
of jointly controlled entity

Format 2
Separate line items for its share of (1)
in its financial statements
(1) assets, liabilities, income, expenses
of jointly controlled entity