Separate and consolidated financial statements

Learning objectives

• Explain the option to limit the disclosure to consolidated information when the entity presents both consolidated and separate financial statements.L2, L3

Normative references

• IAS 33 §4When an entity presents both consolidated and separate financial statements, the required disclosures need be presented only on the basis of the consolidated information; if it elects also to disclose earnings per share based on its separate financial statements, it presents them only in the statement of comprehensive income of those separate statements, never in the consolidated financial statements.

Original summaries of the paragraphs (reference register), never a quotation of the standard.

1 question

• When an entity presents both consolidated and separate financial statements, it may limit the earnings per share information to the consolidated data.L2