Summarised information on subsidiaries

Learning objectives

• Determine the content and basis (before intragroup eliminations) of a subsidiary's summarised financial information.L2, L3

Normative references

• IFRS 12 §B10For each subsidiary that has non-controlling interests that are material, the entity also discloses the dividends paid to non-controlling interests and summarised financial information about assets, liabilities, profit or loss and cash flows.
• IFRS 12 §B11The summarised financial information about a subsidiary is presented before intragroup eliminations.

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

2 questions

• Summarised information about a subsidiary with material non-controlling interests is presented after intragroup eliminations.L2
• 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?L2