• Register
Search Questions / Answers

Welcome to AccountantAnswer Forum, where you can ask questions and receive answers. Although you need not be a member to ask questions or provide answers, we invite you to register an account and be a member of our community for mutual help. You can register with your email or with facebook login in few seconds

Get AccountantAnswer App


If a company consolidates 2 structured entities, for which it has no legal ownership, but has control, should there be minority interest in the balance sheet?
in IFRS 10 - Consolidated Financial Statements by

1 Answer

0 votes
Under IFRS 10 – Consolidated Financial Statements, when a reporting entity has power over a SE and is exposed, or has rights to variable returns from its involvement with a SE and has the ability to affect those returns through its power over the SE, the reporting entity is considered to have control over the SE which must be consolidated within the reporting entity’s financial statements. When the reporting entity does not control the SE, consolidation is not required under IFRS 10.
as far NCI is concerned, its required to be shown
by Level 5 Member (11.3k points)