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Educational Material on Ind AS 27 Consolidated and Separate Financial Statements

Educational Material on Ind AS 27 Consolidated and Separate Financial Statements

Ind AS 27 Consolidated and Separate Financial Statements : Ind AS 27 Separate Financial Statements (as amended in 2011) outlines the accounting and disclosure requirements for ‘separate financial statements’, which are financial statements prepared by a parent, or an investor in a joint venture or associate, where those investments are accounted for either at cost or in accordance with Ind AS 39 Financial Instruments: Recognition and Measurement or IFRS 9 Financial Instruments. The standard also outlines the accounting requirements for dividends and contains numerous disclosure requirements. Ind AS 27 was reissued in May 2011 and applies to annual periods beginning on or after 1 January 2013, superseding Ind AS 27 Consolidated and Separate Financial Statements from that date.

History of Ind AS 27 (as amended in 2011)

DateDevelopmentComments
September 1987Exposure Draft E30 Consolidated Financial Statements and Accounting for Investments in Subsidiaries 
April 1989Ind AS 27 Consolidated Financial Statements and Accounting for Investments in Subsidiaries issuedEffective 1 January 1990
1994Ind AS 27 reformatted 
December 1998Amended by Ind AS 39 Financial Instruments: Recognition and MeasurementEffective 1 January 2001
18 December 2003Ind AS 27 Consolidated and Separate Financial Statements issuedEffective for annual periods beginning on or after 1 January 2005
25 June 2005Exposure Draft of Proposed Amendments to IFRS 3 and Ind AS 27 
10 January 2008Ind AS 27 Consolidated and Separate Financial Statements (2008) issuedEffective for annual periods beginning on or after 1 July 2009
22 May 2008Amended by Cost of a Subsidiary in the Separate Financial Statements of a Parent on First-time Adoption of IFRSsEffective for annual periods beginning on or after 1 January 2009
22 May 2008Amended by Annual Improvements to IFRSs
(investments in subsidiaries held for sale)
Effective for annual periods beginning on or after 1 January 2009
6 May 2010Amended by Annual Improvements to IFRSs 2010
(transitional requirements)
Effective for annual periods beginning on or after 1 July 2010
12 May 2011Reissued as Ind AS 27 Separate Financial Statements (as amended in 2011). Consolidation requirements previously forming part of Ind AS 27 (2008) have been revised and are now contained in IFRS 10 Consolidated Financial StatementsEffective for annual periods beginning on or after 1 January 2013
31 October 2012Amended by Investment Entities (Amendments to IFRS 10, IFRS 12 and Ind AS 27) (project history)Effective for annual periods beginning on or after 1 January 2014
12 August 2014Amended by Equity Method in Separate Financial Statements (Amendments to Ind AS 27) (project history)Effective for annual periods beginning on or after 1 January 2016, with earlier application permitted

Educational Material on Ind AS 27 Consolidated and Separate Financial Statements

Ind AS 27 Consolidated and Separate Financial Statements : The accounting standard Ind AS 27 sets out the requirements for preparing and presenting separate financial statements for investments in subsidiaries, joint ventures and associates. Find articles, books and online resources providing quick links to the standard, summaries, guidance and news of recent developments.

key definitions Ind AS 27 

Consolidated financial statementsFinancial statements of a group in which the assets, liabilities, equity, income, expenses and cash flows of the parent and its subsidiaries are presented as those of a single economic entity
Separate financial statementsFinancial statements presented by a parent (i.e. an investor with control of a subsidiary), an investor with joint control of, or significant influence over, an invest, in which the investments are accounted for at cost or in accordance with IFRS 9 Financial Instruments

Objectives of Ind AS 27

Ind AS 27 has the objective of setting standards to be applied in accounting for investments in subsidiaries, jointly ventures, and associates when an entity elects, or is required by local regulations, to present separate (non-consolidated) financial statements.

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Educational Material on Ind AS 27 Consolidated and Separate Financial Statements 

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Educational Material on Ind AS 27 Consolidated and Separate Financial Statements

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