ifrs 12: disclosure of interests in other entities
FRS requires the entities to
disclose their interest in other entities to enable the user of the financial
statements to evaluate the following factors;
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The nature and the risks associated with the interest in other entities, and
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The effect of those risks and interest on the financial position, financial performance, and cash flows position of the entity holding such interest
IFRS 12 shall be applied by an entity that has an interest in any of the following;
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Associates
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Subsidiaries
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Joint arrangements
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Unconsolidated structured entities
This IFRS does not apply to the following things;
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An entity that holds interest in another entity but has no control over the other entity
An entity shall disclose the following information at a minimum;
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The significance of the judgment and assumptions made in the determination of the interest and joint control in other entities
The information about the interest in the following;
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Subsidiaries
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Joint arrangements
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Associate companies
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Structures entity that is not controlled by another entity