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Educational Material on Ind AS 28 Investments in Associates

Ind AS 28 Investments in Associates : Ind AS 28 Investments in Associates and Joint Ventures (as amended in 2011) outlines how to apply, with certain limited exceptions, the equity method to investments in associates and joint ventures. The standard also defines an associate by reference to the concept of “significant influence”, which requires power to participate in financial and operating policy decisions of an invested (but not joint control or control of those polices). Ind AS 28 was reissued in May 2011 and applies to annual periods beginning on or after 1 January 2013.

History of Ind AS 28 (as amended in 2011)

Date Development Comments
July 1986 Exposure Draft E28 Accounting for Investments in Associates and Joint Ventures  
April 1989 Ind AS 28 Accounting for Investments in Associates issued Effective 1 January 1990
1994 Ind AS 28 was reformatted  
December 1998 Amended by Ind AS 39 Financial Instruments: Recognition and Measurement Effective 1 January 2001
18 December 2003 Ind AS 28 Investments in Associates issued Effective for annual periods beginning on or after 1 January 2005
10 January 2008 Amended by IFRS 3 Business Combinations (loss of significant influence) Effective for annual periods beginning on or after 1 July 2009
22 May 2008 Amended by Improvements to IFRSs (impairment testing) Effective for annual periods beginning on or after 1 January 2009
12 May 2011 Ind AS 28 Investments in Associates and Joint Ventures (2011) issued (supersedes Ind AS 28 (2003)) Effective for annual periods beginning on or after 1 January 2013
11 September 2014 Amended by Sale or Contribution of Assets between an Investor and its Associate or Joint Venture (Amendments to IFRS 10 and Ind AS 28) Effective on a prospective basis to transactions occurring in annual periods beginning on or after 1 January 2016 deferred indefinitely (see below)
18 December 2014
Amended by Investment Entities: Applying the Consolidation Exception (Amendments to IFRS 10, IFRS 12 and Ind AS 28) (project history)
Effective for annual periods beginning on or after 1 January 2016
17 December 2015
Amended by Effective Date of Amendments to IFRS 10 and Ind AS 28
defer the effective date of the September 2014 amendments to these standards indefinitely

Educational Material on Ind AS 28 Investments in Associates

Ind AS 28 Investments in Associates : An associate is an entity over which an investor has significant influence, being the power to participate in the financial and operating policy decisions of the invested (but not control or joint control), and investments in associates are, with limited exceptions, required to be accounted for using the equity method.

Key definitions [Ind AS 28.2]

Associate: an entity in which an investor has significant influence but not control or joint control.

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Significant influence: power to participate in the financial and operating policy decisions but not control them.

Equity method: a method of accounting by which an equity investment is initially recorded at cost and subsequently adjusted to reflect the investor’s share of the net assets of the associate (invested).

Objective of Ind AS 28

The objective of Ind AS 28 (as amended in 2011) is to prescribe the accounting for investments in associates and to set out the requirements for the application of the equity method when accounting for investments in associates and joint ventures. [Ind AS 28(2011).1]

Scope of Ind AS 28

Ind AS 28 applies to all entities that are investors with joint control of, or significant influence over, an invested (associate or joint venture). [Ind AS 28(2011).2]

Separate financial statements

An investment in an associate or a joint venture shall be accounted for in the entity’s separate financial statements in accordance with Ind AS 27 Separate Financial Statements (as amended in 2011).

Disclosure

There are no disclosures specified in Ind AS 28. Instead, IFRS 12 Disclosure of Interests in Other Entities outlines the disclosures required for entities with joint control of, or significant influence over, an invest.

Relevant link to download the Educational Material: Ind AS 28 Investments in Associates

Educational Material on Ind AS 28 Investments in Associates 

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