IFRS 10Chapter 2Lesson 1
Control: three elements, all required
Step 1 of 6Learning objectives
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An investor controls an investee when it has power over it, is exposed to variable returns and can use its power to affect those returns; control is reassessed when facts change.
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Learning objectives
- Identify the three elements of control and the fact that all must be present.
- Determine, from the facts of a case, whether an investor controls an investee.
- Recognise the changes in facts that require control to be reassessed.
- Place control in relation to IFRS 3 (obtaining control) and IFRS 11 (joint control).