CERTYNEX IFRS ACADEMY

What is the objective of the disclosures required by IFRS 12?

To set the accounting for subsidiaries, joint arrangements and associates, together with the measurement of the interests the entity holds in each of them.

To enable users to evaluate the nature of the interests held in other entities and the associated risks, and their effects on financial position, financial performance and cash flows.

To define the criteria for knowing whether one entity controls another, and for deciding which one must present consolidated financial statements.

To impose a uniform model for presenting the consolidated statement of financial position, so that groups in the same sector publish comparable statements.