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Файл:Стандарты финансовой отчетности в корпоративном бизнесе. Учебное пособие на английском языке
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and the acquirer, intangible assets that do not qualify for separate recognition
or other factors;
(f) the acquisition-date fair value of the total consideration transferred and
the acquisition-date fair value of each major class of consideration, such as:
– cash;
– other tangible or intangible assets, including a business or subsidiary of
the acquirer;
– liabilities incurred, for example, a liability for contingent consideration;
– equity interests of the acquirer, including the number of instruments or
interests issued or issuable and the method of determining the fair value of
those instruments or interests;
(g) for contingent consideration arrangements and indemnification assets:
– the amount recognised as of the acquisition date;
– a description of the arrangement and the basis for determining the
amount of the payment;
- an estimate of the range of outcomes (undiscounted) or, if a range can-
not be estimated, that fact and the reasons why a range cannot be estimated. If
the maximum amount of the payment is unlimited, the acquirer shall disclose
that fact;
(h) for acquired receivables:
– the fair value of the receivables;
– the gross contractual amounts receivable;
– the best estimate at the acquisition date of the contractual cash flows
not expected to be collected.
The disclosures shall be provided by major class of receivable, such as
loans, direct finance leases and any other class of receivables.
If a contingent liability is not recognised because its fair value cannot be
measured reliably, the acquirer shall disclose the information about it.
(i) for each business combination in which the acquirer holds less than
100 per cent of the equity interests in the acquiree at the acquisition date:
– the amount of the non-controlling interest in the acquiree recognised at
the acquisition date and the measurement basis for that amount;
– for each non-controlling interest in an acquiree measured at fair value,
the valuation techniques and key model inputs used for determining that value;
(j) in a business combination achieved in stages:
– the acquisition-date fair value of the equity interest in the acquiree held
by the acquirer immediately before the acquisition date;
– the amount of any gain or loss recognised as a result of remeasuring to
fair value the equity interest in the acquiree held by the acquirer before the
business combination and the line item in the statement of comprehensive income in which that gain or loss is recognised;
(k) the following information:
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– the amounts of revenue and profit or loss of the acquiree since the ac-
quisition date included in the consolidated statement of comprehensive income
for the reporting period;
– the revenue and profit or loss of the combined entity for the current re-
porting period as though the acquisition date for all business combinations that
occurred during the year had been as of the beginning of the annual reporting
period.
6.2. IAS 27 "Separate financial statements"
Standard shall be applied in accounting for investments in subsidiaries,
joint ventures and associates when an entity elects, or is required by local regulations, to present separate financial statements.
Definitions
Consolidated financial statements are the financial statements of a group
in which the assets, liabilities, equity, income, expenses and cash flows of the
parent and its subsidiaries are presented as those of a single economic entity.
Separate financial statements are those presented by a parent (ie an in-
vestor with control of a subsidiary) or an investor with joint control of, or significant influence over, an investee, in which the investments are accounted for
at cost or in accordance with IFRS 9 Financial Instruments.
Associate is an entity, including an unincorporated entity such as a part-
nership, over which the investor has significant influence and that is neither a
subsidiary nor an interest in a joint venture.
Control of an investee - an investor controls an investee when the inves-
tor is exposed, or has rights, to variable returns from its involvement with the
investee and has the ability to affect those returns through its power over the
investee.
Joint control is the contractually agreed sharing of control of an arrange-
ment, which exists only when decisions about the relevant activities require the
unanimous consent of the parties sharing control.
Joint venture is a joint arrangement whereby the parties that have joint
control of the arrangement have rights to the net assets of the arrangement.
Joint venturer is a party to a joint venture that has joint control of that
joint venture.
Parent - an entity that controls one or more entities.
Subsidiary - an entity that is controlled by another entity.
Separate financial statements are those presented in addition to consoli-
dated financial statements or in addition to financial statements in which investments in associates or joint ventures are accounted for using the equity
method. Separate financial statements need not be appended to, or accompany,
those statements.
Financial statements in which the equity method is applied are not sepa-
rate financial statements. Similarly, the financial statements of an entity that
152
does not have a subsidiary, associate or joint venturer’s interest in a joint ven-
ture are not separate financial statements.
A parent need not present consolidated financial statements if it meets all
the following conditions:
(i)it is a wholly-owned subsidiary or is a partially-owned subsidiary of
another entity and all its other owners, including those not otherwise entitled to
vote, have been informed about, and do not object to, the parent not presenting
consolidated financial statements;
(ii)its debt or equity instruments are not traded in a public market (a do-
mestic or foreign stock exchange or an over-the-counter market, including
local and regional markets);
(iii)it did not file, nor is it in the process of filing, its financial statements
with a securities commission or other regulatory organisation for the purpose
of issuing any class of instruments in a public market;
(iv)its ultimate or any intermediate parent produces consolidated financial
statements that are available for public use and comply with IFRSs.
Preparation of separate financial statements
When an entity prepares separate financial statements, it shall account for
investments in subsidiaries, joint ventures and associates either:
(a)at cost, or
(b)in accordance with IFRS 9.
If an entity elects to measure its investments in associates or joint ven-
tures at fair value through profit or loss in accordance with IFRS 9, it shall also
account for those investments in the same way in its separate financial statements.
If a parent is required to measure its investment in a subsidiary at fair
value through profit or loss in accordance with IFRS 9, it shall also account for
its investment in a subsidiary in the same way in its separate financial statements.
When a parent ceases to be an investment entity, or becomes an invest-
ment entity, it shall account for the change from the date when the change in
status occurred, as follows:
When an entity ceases to be an investment entity, the entity shall either:
(a) account for an investment in a subsidiary at cost. The fair value of the
subsidiary at the date of the change of status shall be used as the deemed cost
at that date; or
(b) continue to account for an investment in a subsidiary in accordance
with IFRS 9.
When an entity becomes an investment entity, it shall account for an in-
vestment in a subsidiary at fair value through profit or loss in accordance with
IFRS 9.
An entity shall recognise a dividend from a subsidiary, a joint venture or
an associate in profit or loss in its separate financial statements when its right
to receive the dividend is established.
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Disclosure
When a parent elects not to prepare consolidated financial statements and
instead prepares separate financial statements, it shall disclose in those separate financial statements:
a) the fact that the financial statements are separate financial statements;
that the exemption from consolidation has been used; the name and principal
place of business (and country of incorporation, if different) of the entity
whose consolidated financial statements that comply with International Financial Reporting Standards have been produced for public use; and the address
where those consolidated financial statements are obtainable;
b) a list of significant investments in subsidiaries, joint ventures and as-
sociates, including:
– the name of those investees.
– the principal place of business (and country of incorporation, if differ-
ent) of those investees.
– its proportion of the ownership interest (and its proportion of the voting
rights, if different) held in those investees.
b) a description of the method used to account for the investments.
When a parent or an investor with joint control of, or significant influ-
ence over, an investee prepares separate financial statements, the parent or
investor shall identify the financial statements prepared in accordance with
IFRS 10, IFRS 11 or IAS 28. The parent or investor shall also disclose in its
separate financial statements:
(a) the fact that the statements are separate financial statements and the
reasons why those statements are prepared if not required by law.
(b) a list of significant investments in subsidiaries, joint ventures and as-
sociates, including:
– the name of those investees.
– the principal place of business (and country of incorporation, if differ-
ent) of those investees.
– its proportion of the ownership interest (and its proportion of the voting
rights, if different) held in those investees;
(c) a description of the method used to account for the investments.
6.3. IAS 28 "Investment in associates and joint ventures"
An entity that prepares and presents financial statements under the accru-
al basis of accounting shall apply this Standard in accounting for investments
in associates and joint ventures.
Standard shall be applied by all entities that are investors with significant
influence over, or joint control of, an investee where the investment leads to
the holding of a quantifiable ownership interest.
Definitions
Associate is an entity over which the investor has significant influence.
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Binding arrangement: For the purposes of this Standard, a binding ar-
rangement is an arrangement that confers enforceable rights and obligations on
the parties to it as if it were in the form of a contract. It includes rights from
contracts or other legal rights.
Consolidated financial statements are the financial statements of an eco-
nomic entity in which assets, liabilities, net assets/equity, revenue, expenses
and cash flows of the controlling entity and its controlled entities are presented
as those of a single economic entity.
Equity method is a method of accounting whereby the investment is ini-
tially recognized at cost and adjusted thereafter for the post-acquisition change
in the investor’s share of the investee’s net assets/equity of the associate or
joint venture. The investor’s surplus or deficit includes its share of the investee’s surplus or deficit and the investor’s net assets/equity includes its share of
changes in the investee’s net assets/equity that have not been recognized in the
investee’s surplus or deficit.
Joint arrangement is an arrangement of which two or more parties have
joint control.
Joint control is the contractually agreed sharing of control of an arrange-
ment, which exists only when decisions about the relevant activities require the
unanimous consent of the parties sharing control.
Joint venture is a joint arrangement whereby the parties that have joint
control of the arrangement have rights to the net assets of the arrangement.
Joint venturer is a party to a joint venture that has joint control of that
joint venture.
Significant influence is the power to participate in the financial and oper-
ating policy decisions of another entity but is not control or joint control of
those policies.
If an entity holds an ownership interest in the form of a shareholding or
other formal equity structure and it holds, directly or indirectly (e.g., through
controlled entities), 20 per cent or more of the voting power of the investee, it
is presumed that the entity has significant influence, unless it can be clearly
demonstrated that this is not the case. Conversely, if the entity holds, directly
or indirectly (e.g., through controlled entities), less than 20 per cent of the voting power of the investee, it is presumed that the entity does not have significant influence, unless such influence can be clearly demonstrated. A substantial or majority ownership by another investor does not necessarily preclude an
entity from having significant influence.
The existence of significant influence by an entity is usually evidenced in
one or more of the following ways:
– representation on the board of directors or equivalent governing body
of the investee;
– participation in policy-making processes, including participation in de-
cisions about dividends or similar distributions;
– material transactions between the entity and its investee;
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– interchange of managerial personnel; or
– provision of essential technical information.
Equity Method
Under the equity method, on initial recognition the investment in an associ-
ate or a joint venture is recognized at cost and the carrying amount is increased
or decreased to recognize the investor’s share of the surplus or deficit of the investee after the date of acquisition. The investor’s share of the investee’s surplus
or deficit is recognized in the investor’s surplus or deficit. Distributions received
from an investee reduce the carrying amount of the investment. Adjustments to
the carrying amount may also be necessary for changes in the investor’s propor-
tionate interest in the investee arising from changes in the investee’s equity that
have not been recognized in the investee’s surplus or deficit. Such changes in-
clude those arising from the revaluation of property, plant and equipment and
from foreign exchange translation differences. The investor’s share of those
changes is recognized in net assets/equity of the investor.
An entity need not apply the equity method to its investment in an associ-
ate or a joint venture if:
a) the entity is a controlling entity that is exempt from preparing consoli-
dated financial statements; or
b) all the following apply:
– the entity itself is a controlled entity and the information needs of users
are met by its controlling entity’s consolidated financial statements, and, in the
case of a partially owned entity, all its other owners, including those not otherwise entitled to vote, have been informed about, and do not object to, the
entity not applying the equity method;
– the entity’s debt or equity instruments are not traded in a public market
(a domestic or foreign stock exchange or an over-the-counter market, including
local and regional markets);
– the entity did not file, nor is it in the process of filing, its financial
statements with a securities commission or other regulatory organization, for
the purpose of issuing any class of instruments in a public market;
– the ultimate or any intermediate controlling entity of the entity produc-
es consolidated financial statements available for public.
After application of the equity method, including recognizing the associ-
ate’s or joint venture’s deficits the entity determines whether it is necessary to
recognize any additional impairment loss with respect to its net investment in
the associate or joint venture.
The entity also determines whether any additional impairment loss is recog-
nized with respect to its interest in the associate or joint venture that does not constitute part of the net investment and the amount of that impairment loss.
Discontinuing the Use of the Equity Method
An entity shall discontinue the use of the equity method from the date
when its investment ceases to be an associate or a joint venture as follows:
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a) if the investment becomes a controlled entity, the entity shall account
for its investment in accordance with the relevant national or international pronouncement;
b) if the retained interest in the former associate or joint venture is a fi-
nancial asset, the entity shall measure the retained interest at fair value. The
fair value of the retained interest shall be regarded as its fair value on initial
recognition as a financial asset in accordance with IPSAS 29. If there are no
published price quotations, the entity shall measure the retained interest at the
carrying amount of the investment at the date that it ceases to be an associate
or joint venture and that carrying amount shall be regarded as its cost on initial
recognition as a financial asset in accordance with IPSAS 29. The entity shall
recognize in surplus or deficit any difference between:
– the fair value (or, where relevant, the carrying amount) of any retained
interest and any proceeds from disposing of a part interest in the associate or
joint venture;
– the carrying amount of the investment at the date the equity method
was discontinued;
b) When an entity discontinues the use of the equity method, the entity shall
account for all amounts previously recognized directly in the entity’s net as-
sets/equity in relation to that investment on the same basis as would have been
required if the investee had directly disposed of the related assets or liabilities.
If an investment in an associate becomes an investment in a joint venture
or an investment in a joint venture becomes an investment in an associate, the
entity continues to apply the equity method and does not remeasure the retained interest.
If an entity’s ownership interest in an associate or a joint venture is re-
duced, but the entity continues to apply the equity method, the entity shall
transfer directly to accumulated surpluses or deficits the proportion of the gain
or loss that had previously been recognized in net assets/equity relating to that
reduction in ownership interest if that gain or loss would be required to be
transferred directly to accumulated surpluses or deficits on the disposal of the
related assets or liabilities.
The entity’s financial statements shall be prepared using uniform ac-
counting policies for like transactions and events in similar circumstances.
6.4. IFRS 10 "Consolidated financial statement".
IFRS 11 "Joint arrangement". FRS 12 "Disclosure of interests
in other entities"
IFRS 10 "Consolidated financial statement"
IFRS 10 establishes principles for the presentation and preparation of
consolidated financial statements when an entity controls one or more other
entities.
Definitions
Consolidated financial statements - the financial statements of a group in
which the assets, liabilities, equity, income, expenses and cash flows of the
parent and its subsidiaries are presented as those of a single economic entity.
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Control of an investee - an investor controls an investee when the inves-
tor is exposed, or has rights, to variable returns from its involvement with the
investee and has the ability to affect those returns through its power over the
investee.
Decision maker - an entity with decision-making rights that is either a
principal or an agent for other parties.
Group - a parent and its subsidiaries.
Non-controlling interest - equity in a subsidiary not attributable, directly
or indirectly, to a parent.
Parent - an entity that controls one or more entities.
Power - existing rights that give the current ability to direct the relevant
activities.
Protective rights - rights designed to protect the interest of the party hold-
ing those rights without giving that party power over the entity to which those
rights relate.
Relevant activities - for the purpose of this IFRS, relevant activities are
activities of the investee that significantly affect the investee’s returns.
Removal rights - rights to deprive the decision maker of its decision-
making authority.
Subsidiary - an entity that is controlled by another entity/
An entity that is a parent shall present consolidated financial statements.
This IFRS applies to all entities, except as follows:
a) a parent need not present consolidated financial statements if it meets
all the following conditions:
– it is a wholly-owned subsidiary or is a partially-owned subsidiary of
another entity and all its other owners, including those not otherwise entitled to
vote, have been informed about, and do not object to, the parent not presenting
consolidated financial statements;
– its debt or equity instruments are not traded in a public market (a do-
mestic or foreign stock exchange or an over-the-counter market, including
local and regional markets);
– it did not file, nor is it in the process of filing, its financial statements
with a securities commission or other regulatory organisation for the purpose
of issuing any class of instruments in a public market; and
– its ultimate or any intermediate parent produces consolidated financial
statements that are available for public use and comply with IFRSs.
b) post-employment benefit plans or other long-term employee benefit
plans to which IAS 19 applies.
Control
An investor, regardless of the nature of its involvement with an entity
(the investee), shall determine whether it is a parent by assessing whether it
controls the investee.
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An investor controls an investee when it is exposed, or has rights, to vari-
able returns from its involvement with the investee and has the ability to affect
those returns through its power over the investee.
Thus, an investor controls an investee if and only if the investor has all
the following:
a) power over the investee; An investor has power over an investee when
the investor has existing rights that give it the current ability to direct the relevant activities, ie the activities that significantly affect the investee’s returns;
b) exposure, or rights, to variable returns from its involvement with the
investee; An investor is exposed, or has rights, to variable returns from its in-
volvement with the investee when the investor’s returns from its involvement
have the potential to vary as a result of the investee’s performance. The investor’s returns can be only positive, only negative or wholly positive and nega-
tive. Although only one investor can control an investee, more than one party
can share in the returns of an investee. For example, holders of non-controlling
interests can share in the profits or distributions of an investee;
c) the ability to use its power over the investee to affect the amount of the
investor’s returns. An investor controls an investee if the investor not only has
power over the investee and exposure or rights to variable returns from its involvement with the investee, but also has the ability to use its power to affect
the investor’s returns from its involvement with the investee. Thus, an investor
with decision-making rights shall determine whether it is a principal or an
agent. An investor that is an agent does not control an investee when it exercises decision-making rights delegated to it.
Examples of rights that, either individually or in combination, can give an
investor power include but are not limited to:
(a) rights in the form of voting rights (or potential voting rights) of an in-
vestee;
(b) rights to appoint, reassign or remove members of an investee’s key
management personnel who have the ability to direct the relevant activities;
(c) rights to appoint or remove another entity that directs the relevant ac-
tivities;
(d) rights to direct the investee to enter into, or veto any changes to,
transactions for the benefit of the investor; and
(e) other rights (such as decision-making rights specified in a manage-
ment contract) that give the holder the ability to direct the relevant activities.
In some circumstances it may be difficult to determine whether an inves-
tor’s rights are sufficient to give it power over an investee. In such cases, to
enable the assessment of power to be made, the investor shall consider evidence of whether it has the practical ability to direct the relevant activities unilaterally. Consideration is given, but is not limited, to the following, which,
when considered together with its rights and the indicators may provide evidence that the investor’s rights are sufficient to give it power over the investee:
159
(a) The investor can, without having the contractual right to do so, ap-
point or approve the investee’s key management personnel who have the abil-
ity to direct the relevant activities;
(b) The investor can, without having the contractual right to do so, direct
the investee to enter into, or can veto any changes to, significant transactions
for the benefit of the investor;
(c) The investor can dominate either the nominations process for electing
members of the investee’s governing body or the obtaining of proxies from
other holders of voting rights;
(d) The investee’s key management personnel are related parties of the
investor (for example, the chief executive officer of the investee and the chief
executive officer of the investor are the same person);
(e) The majority of the members of the investee’s governing body are re-
lated parties of the investor.
An investor shall consider all facts and circumstances when assessing
whether it controls an investee. The investor shall reassess whether it controls
an investee if facts and circumstances indicate that there are changes to one or
more of the three elements of control.
Accounting requirements
A parent shall prepare consolidated financial statements using uniform
accounting policies for like transactions and other events in similar circumstances.
Consolidation of an investee shall begin from the date the investor ob-
tains control of the investee and cease when the investor loses control of the
investee.
A parent shall present non-controlling interests in the consolidated state-
ment of financial position within equity, separately from the equity of the
owners of the parent.
Changes in a parent’s ownership interest in a subsidiary that do not result
in the parent losing control of the subsidiary are equity transactions (ie transactions with owners in their capacity as owners).
If a parent loses control of a subsidiary, the parent:
a) derecognises the assets and liabilities of the former subsidiary from the
consolidated statement of financial position;
b) recognises any investment retained in the former subsidiary at its fair
value when control is lost and subsequently accounts for it and for any
amounts owed by or to the former subsidiary in accordance with relevant
IFRSs. That fair value shall be regarded as the fair value on initial recognition
of a financial asset in accordance with IFRS 9 or, when appropriate, the cost
on initial recognition of an investment in an associate or joint venture;
c) recognises the gain or loss associated with the loss of control attributa-
ble to the former controlling interest.
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