国际财务报告准则第10号-合并财务报表

type

summary

status

IFRS 10 – Consolidated Financial Statements- from Deloitte

lFRS 10 introduces a single consolidation model which is applicable to all investees.

IFRS 10 replaces the consolidation guidance formerly found in lAS 27 and SlC-12.

IFRS 10 introduces a new definition of "control" which reguires an investor to consolidate an investee when ithas all of the

following attributes:

Power over the investee.

Exposure, or rights, to variable returns from its involvement with the investee,

andThe ability to use its power over the investee to affect the amount of the investor's returns.

lFRs 10 provides additional application guidance regarding situations in which the assessment of control isdifficult

including those involving:

Power without a majority of voting rights (i.e. de facto power);

Potential voting rights (held by the investor or others);

Agency relationships; and

Relationships with entities designed so that voting rights are not the dominant factor in assessing control(referred to

hereafter as "structured entities").

lFRS 12 introduces enhanced disclosure requirements for entities that are subject to an assessment of control

under lFRS 10.

lFRS 10 is effective for annual periods beginning on or after January 1, 2013 and is applicable retrospectively

The new control model

The new control model under IFRS 10 is based on the existence of three elements of control. When all of these three

elements of control are present then an investor is considered to control an investee and consolidation is required.

When one or more of the elements is not present, an investor will not consolidate but instead be required to determine

the nature of its relationship with the investee (e.g. significant influence, joint control) and the appropriate accounting

underthe requisite IFRS

The three elements of control which are the basis for consolidation under IFRS 10 are depicted below:

(1)、Power —Existing rights that give the current ability to direct the relevant activities of the investee

(2)、Exposure or rights to variable returns—Returns that are not fixed and have the potential to vary with performance of the investee

(3)、Ability to use power to affect returns—Link between power and returns

In order to apply the control model, several initial steps are necessary before the assessment of whether each of the three elements of control are present. These steps are:

• Identify the investee

The assessment of control is made at the level of each investee. However, in some circumstances, the assessment

is made for a portion of an entity (i.e. a silo). That is the case if, and only if, all the assets, liabilities and equity

of that part of the investee are ring-fenced from the rest of the entity. The existence of silos is not confined to

structured entities but is more likely to arise there.

• Understand the purpose and design of the investee

Understanding the purpose and design of the investee is necessary to:

• Identify what the relevant activities of the investee are (see next page);

• Understand how decisions about the relevant activities are made;

• Determine who has the current ability to direct those activities; and

• Determine who receives returns from the activities.

• Identify the relevant activities of the investee and how decisions about these relevant activities are made

More detail on each of these initial steps is provided on page 5. After this discussion, a review in more depth of the

three elements of control (and how to assess whether these are present) is provided.

Identify the investee

Identify the relevant activities and how decisions about these relevant activities are made

Relevant activities are the activities of the investee that significantly affect the investee’s returns.

Examples of activities that, depending on the circumstances, can be relevant activities include:

• Selling and purchasing of goods or services;

• Managing financial assets during their life (including on default);

• Selecting, acquiring or disposing of assets;

• Researching and developing new products or processes; and

• Determining a funding structure or obtaining funding.

Examples of decisions made about relevant activities include:

• Establishing operating and capital budgets;

• Appointing, remunerating and terminating an investee’s key management (e.g., CEO, COO, CFO) or

service providers.

Determining what constitutes the relevant activities of the investee requires judgment. In some situations, two

or more investors each have existing rights to unilaterally direct different relevant activities. In such cases, the

investors are required to determine which activities most significantly affect the returns of the investee and which

investor has the current ability to direct those activities.

In other situations, the relevant activities may not occur until a particular event or circumstance occurs.

For example, an investee that manages a portfolio of high quality receivables that provides a predictable level of

return with little involvement from investors may have as its relevant activity the right to manage those receivables

in the event of default (e.g. make decisions on how to pursue recovery).

Consolidated Financial Statements (IFRS 10) Link

How to consolidate