IFRS 12Chapter 3Lesson 1
The group and its material non-controlling interests
Step 1 of 7Learning objectives
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Consolidated statements hide a question: who, besides the parent, has claims on the group’s activities and cash flows? IFRS 12 answers it subsidiary by subsidiary when non-controlling interests are material.
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Learning objectives
- Explain that the entity reports the composition of the group and the share that non-controlling interests have in its activities and cash flows.
- Identify the information to provide for a subsidiary with material non-controlling interests.
- Calculate the profit allocated to non-controlling interests and their accumulated closing balance.
- Justify the level of presentation (subsidiary or sub-group) and the assessment of materiality from the consolidated viewpoint.