CERTYNEX IFRS ACADEMY

Which significant judgements and assumptions does IFRS 12 require to be explained in respect of interests in other entities? More than one answer is possible.

The choice of the reporting date, which determines the period covered by all of the financial statements.

The judgement that led to the conclusion that the entity controls another entity.

The estimate of the useful life of an item of property, plant and equipment that the entity holds alone, with no link to an interest in another entity.

The judgement on the type of joint arrangement when it is structured through a separate vehicle.

The judgement that led to the conclusion of joint control or significant influence.