AASB 12 - Disclosure of Interests in Other Entities - August 2011
Interests in subsidiariesInterests in subsidiaries
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Interests in subsidiaries
10 An entity shall disclose information that enables users of its consolidated financial statements
(a) to understand:
(i) the composition of the group; and
(ii) the interest that non-controlling interests have in the group’s activities and cash flows (paragraph 12); and
(b) to evaluate:
(i) the nature and extent of significant restrictions on its ability to access or use assets, and settle liabilities, of the group (paragraph 13);
(ii) the nature of, and changes in, the risks associated with its interests in consolidated structured entities (paragraphs 14–17);
(iii) the consequences of changes in its ownership interest in a subsidiary that do not result in a loss of control (paragraph 18); and
(iv) the consequences of losing control of a subsidiary during the reporting period (paragraph 19).
11 When the financial statements of a subsidiary used in the preparation of consolidated financial statements are as of a date or for a period that is different from that of the consolidated financial statements (see paragraphs B92 and B93 of AASB 10), an entity shall disclose:
(a) the date of the end of the reporting period of the financial statements of that subsidiary; and
(b) the reason for using a different date or period.