CERTYNEX IFRS ACADEMY

Omega SA is a subsidiary with material non-controlling interests. Its revenue is 2,000,000 in its own accounts, of which 500,000 is sales to its parent, eliminated in the consolidated accounts (case facts). What amount of revenue appears in the subsidiary's summarised information?

1,500,000, after eliminating the sales to the parent, as in the consolidated accounts of the group Omega belongs to.

2,500,000, by adding the intragroup sales to the revenue from sales to third parties that the subsidiary has already recognised.

2,000,000, because summarised information is presented before intragroup eliminations, sales to the parent included.

500,000, the amount of the intragroup sales, which IFRS 12 asks to be presented separately from revenue from third parties.