CONTENTS

COMPILATION DETAILS

Comparison with IFRS 12

INTRODUCTION TO IFRS 12

(available on the AASB website)

Accounting Standard

AASB 12 Disclosure of Interests in Other Entities

Paragraphs

Objective 1

Meeting the objective 2 – 4

Application Aus4.1 – Aus4.4

Reduced disclosure requirements Aus4.6 – Aus4.7

Scope 5 – 6

Significant judgements and assumptions 7 – 9

Investment entity status 9A – 9B

Interests in subsidiaries 10 – 11

The interest that non-controlling interests have in the group’s activities and cash flows 12

The nature and extent of significant restrictions 13

Nature of the risks associated with the entity’s interests in consolidated structured entities 14 – 17

Consequences of changes in a parent’s ownership interest in a subsidiary that do not result in a loss of control 18

Consequences of losing control of a subsidiary during the reporting period 19

Interests in unconsolidated subsidiaries (investment entities) 19A – 19G

Interests in joint arrangements and associates 20

Nature, extent and financial effects of an entity’s interests in joint arrangements and associates 21 – 22

Risks associated with an entity’s interests in joint ventures and associates 23

Interests in unconsolidated structured entities 24 – 25A

Nature of interests 26 – 28

Nature of risks 29 – 31

Appendices:

A. Defined Terms Page 16

B. Application Guidance B1

Aggregation B2 – B6

Interests in other entities B7 – B9

Summarised financial information for subsidiaries, joint ventures and associates B10 – B17

Commitments for joint ventures B18 – B20

Interests in unconsolidated structured entities

Structured entities B21 – B24

Nature of risks from interests in unconsolidated structured entities B25 – B26

C. Effective Date and Transition

Effective date and transition C1A – C2B

References to AASB 9 C3

E. Australian Implementation Guidance for Not-for-Profit Entities IG1 – IG2

Structured entities IG3 – IG9

DELETED IFRS 12 TEXT Page 25

BASIS FOR CONCLUSIONS ON IFRS 12
(available on the AASB website)

Australian Accounting Standard AASB 12 Disclosure of Interests in Other Entities (as amended) is set out in paragraphs 1 – 31, Appendices A – C, and E. All the paragraphs have equal authority. Paragraphs in bold type state the main principles. Terms defined in Appendix A are in italics the first time they appear in the Standard. AASB 12 is to be read in the context of other Australian Accounting Standards, including AASB 1048 Interpretation of Standards, which identifies the Australian Accounting Interpretations. In the absence of explicit guidance, AASB 108 Accounting Policies, Changes in Accounting Estimates and Errors provides a basis for selecting and applying accounting policies.