When facts change

Learning objectives

• Determine whether a change in facts during the period changes the conclusion to be explained.L2

Normative references

• IFRS 12 §8Significant judgements include those made when changes in facts and circumstances are such that the conclusion about control, joint control or significant influence changes during the period.

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

2 questions

• During the period, a change in facts and circumstances leads Pluton SA to conclude that it no longer controls Mars SA, whereas it controlled it at the start of the period (case facts). What does IFRS 12 ask it to include among the significant judgements explained?L2
• The significant judgements to be explained include those made when facts and circumstances change in such a way that the conclusion on control, joint control or significant influence changes during the period.L2