IFRS 10 — Consolidated Financial Statements
Modules of the standard
- Concepts43 publishedNormative and pedagogical mapping.
- Questions93 publishedTrue/false, quizzes, calculations, entries, mini-cases, judgment.
- Practical cases5 publishedProgressive cases, from beginner to expert.
- Workpapers4 publishedWorking papers with calculations and entries.
- Professional file1 publishedSimulation of a full engagement.
- Exams2 publishedSealed, versioned final exams.
- Explanations (lessons)14 publishedLesson explanations, chapter by chapter.
Practical cases
- Control of an entity: power, substantive and protective rights, variable returns, link, parent exemption and first consolidation eliminationsL1Beginner
- Control without a majority, potential voting rights, structured entity and fund manager: principal or agent, reassessment of controlL2Intermediate
- Consolidation procedures: harmonisation of policies and dates, intragroup eliminations, unrealised profit, attribution and deficit balance of non-controlling interestsL3Advanced
- Change in ownership without loss of control: purchase from third parties and partial sale, difference in equity, silences of the standard on goodwill and other comprehensive incomeL3Advanced
- Loss of control with a retained associate (IFRS 10 + IAS 28 interaction): derecognition, fair value of the retained interest, gain, reclassification of other comprehensive income, multiple arrangements and the 2014 amendmentsL4Expert
- Group file: control, consolidation and non-controlling interests, change in ownership without loss of control and loss of control with a retained interest (IFRS 10)L4Expert
Workpapers
- Assessing control of an investee: power, variable returns, link, principal or agent, reassessment, parent exemption and investment entity status
- Consolidation and non-controlling interests: intragroup eliminations, unrealised profit in inventory, uniform policies and dates, attribution of profit and deficit balance
- Change in ownership without loss of control: equity transaction, adjustment of non-controlling interests and silences of the standard
- Loss of control of a subsidiary: derecognition, fair value of the retained interest, gain or loss, other comprehensive income reclassified, multiple arrangements and the retained interest
Concepts by topic
Mapping texts (concept labels, objectives, paragraph summaries) are available in French only for now.
Requirement to consolidate and exemption
- The requirement to present consolidated statementsImportant2 questions
- The exemption of a parent in a wider groupImportant2 questions
Control: principle and reassessment
- Control: three cumulative elementsCore4 questions
- Continuous reassessment of controlImportant2 questions
Power over the investee
- Power arises from existing rightsCore3 questions
- The relevant activitiesCore3 questions
- Substantive rightsCore3 questions
- Protective rightsCore3 questions
- Power without a majority of votesImportant2 questions
- Potential voting rightsImportant2 questions
- Structured entitiesImportant2 questions
Variable returns and the link
- Exposure to variable returnsCore3 questions
- The link between power and returnsCore3 questions
Principal or agent
- Principal or agentCore3 questions
- The factors of the principal / agent analysisImportant2 questions
- Removal rightsImportant2 questions
- The decision maker's remuneration and exposureImportant3 questions
- Fund managers and single-investor fundsAdvancedNo question
Consolidation procedures
- Line-by-line combination and elimination of the investmentCore3 questions
- Uniform accounting policiesCore3 questions
- Intragroup transactions and unrealised profitsCore3 questions
- The subsidiaries' reporting datesImportant2 questions
Non-controlling interests
- Presentation of non-controlling interestsCore3 questions
- Attribution of profit to owners and non-controlling interestsCore3 questions
- The deficit balance of non-controlling interestsCore3 questions
- Cumulative preference shares held by non-controlling interestsAdvanced1 question
Changes in ownership without loss of control
- A change in ownership is an equity transactionCore3 questions
- The standard's silences on costs and goodwillAdvanced1 question
Loss of control
- Derecognition on loss of controlCore3 questions
- The retained interest at fair valueCore3 questions
- The gain or loss on loss of controlCore3 questions
- Other comprehensive income on loss of controlCore3 questions
- Multiple disposal arrangementsImportant2 questions
- Sale to an associate (2014 amendments)Advanced1 question
Investment entities
- The definition of an investment entityAdvanced1 question
- Typical characteristics of an investment entityAdvanced1 question
- The exception: fair value instead of consolidationAdvanced1 question
- Reassessing investment entity statusAdvanced1 question
Links with other standards
- Link with IFRS 3Specialised1 question
- Link with IAS 28Specialised1 question
- Link with IFRS 9Specialised1 question
- Link with IFRS 11Specialised1 question
- Link with IFRS 12Specialised1 question