INTERNATIONAL FINANCIAL REPORTING STANDARD 12 DISCLOSURE OF INTERESTS IN OTHER ENTITIES
OBJECTIVE	1
Meeting the objective	2
SCOPE	5
SIGNIFICANT JUDGEMENTS AND ASSUMPTIONS	7
Investment entity status	9A
INTERESTS IN SUBSIDIARIES	10
The interest that non-controlling interests have in the group’s activities and cash flows	12
The nature and extent of significant restrictions	13
Nature of the risks associated with an entity’s interests in consolidated structured entities	14
Consequences of changes in a parent’s ownership interest in a subsidiary that do not result in a loss of control	18
Consequences of losing control of a subsidiary during the reporting period	19
INTERESTS IN UNCONSOLIDATED SUBSIDIARIES (INVESTMENT ENTITIES)	19A
INTERESTS IN JOINT ARRANGEMENTS AND ASSOCIATES	20
Nature, extent and financial effects of an entity’s interests in joint arrangements and associates	21
Risks associated with an entity’s interests in joint ventures and associates	23
INTERESTS IN UNCONSOLIDATED STRUCTURED ENTITIES	24
Nature of interests	26
Nature of risks	29
APPENDICES
A Defined terms
B Application guidance
C Effective date and transition
D Amendments to other IFRSs
APPROVAL BY THE BOARD OF IFRS 12 ISSUED IN MAY 2011
APPROVAL BY THE BOARD OF AMENDMENTS TO IFRS 12:
Consolidated Financial Statements, Joint Arrangements and Disclosure of Interests in Other Entities: Transition Guidance (Amendments to IFRS 10, IFRS 11 and IFRS 12) issued in June 2012
Investment Entities (Amendments to IFRS 10, IFRS 12 and IAS 27) issued in October 2012
Investment Entities: Applying the Consolidation Exception (Amendments to IFRS 10, IFRS 12 and IAS 28) issued in December 2014
FOR THE BASIS FOR CONCLUSIONS, SEE PART C OF THIS EDITION
BASIS FOR CONCLUSIONS

International Financial Reporting Standard 12 Disclosure of Interests in Other Entities (IFRS 12) is set out in paragraphs 1⁠–⁠31 and Appendices A⁠–⁠D. All the paragraphs have equal authority. Paragraphs in bold type state the main principles. Terms defined in Appendix A are in italics the first time they appear in the IFRS. Definitions of other terms are given in the Glossary for International Financial Reporting Standards. IFRS 12 should be read in the context of its objective and the Basis for Conclusions, the Preface to IFRS Standards and the Conceptual Framework for Financial Reporting. IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors provides a basis for selecting and applying accounting policies in the absence of explicit guidance. [Refer:IAS 8 paragraphs 10⁠–⁠12]

International Financial Reporting Standard 12Disclosure of Interests in Other Entities

Objective

The objective of this IFRS is to require an entity to disclose information that enables users [Refer:Conceptual Framework paragraphs 1.2⁠–⁠1.10 and 2.36] of its financial statements to evaluate:

(a)	the nature of, and risks associated with, its interests in other entities; and
(b)	the effects of those interests on its financial position, financial performance and cash flows.

[Refer:Basis for Conclusions paragraphs BC1⁠–⁠BC8]


Disclosure of interests in other entities [text block] _Disclosure	Text block		800500, 825700

Meeting the objective

To meet the objective in paragraph 1, an entity shall disclose:

(a)

the significant judgements and assumptions it has made in determining:

(i)	the nature of its interest in another entity or arrangement;
(ii)	the type of joint arrangement in which it has an interest (paragraphs 7⁠–⁠9);
(iii)	that it meets the definition of an investment entity, if applicable (paragraph 9A); and

(b)

information about its interests in:

(i)

subsidiaries (paragraphs 10⁠–⁠19);


Disclosure of interests in subsidiaries [text block] _Disclosure	Text block		825700

(ii)

joint arrangements and associates (paragraphs 20⁠–⁠23); and


Disclosure of interests in associates [text block] _Disclosure	Text block		825700
Disclosure of interests in joint arrangements [text block] _Disclosure	Text block		825700

(iii)

structured entities that are not controlled by the entity (unconsolidated structured entities) (paragraphs 24⁠–⁠31).


Disclosure of interests in unconsolidated structured entities [text block] _Disclosure	Text block		825700

3	If the disclosures required by this IFRS, together with disclosures required by other IFRSs, do not meet the objective in paragraph 1, an entity shall disclose whatever additional information is necessary to meet that objective.

An entity shall consider the level of detail necessary to satisfy the disclosure objective and how much emphasis to place on each of the requirements in this IFRS. It shall aggregate or disaggregate disclosures so that useful information is not obscured by either the inclusion of a large amount of insignificant detail or the aggregation of items that have different characteristics (see paragraphs B2⁠–⁠B6). [Refer:Basis for Conclusions paragraphs BC8D and BC8E]

Scope

This IFRS shall be applied by an entity that has an interest in any of the following:

(a)	subsidiaries
(b)	joint arrangements (ie joint operations or joint ventures)
(c)	associates
(d)	unconsolidated structured entities.

Except as described in paragraph B17, the requirements in this IFRS apply to an entity’s interests listed in paragraph 5 that are classified (or included in a disposal group that is classified) as held for sale or discontinued operations in accordance with IFRS 5 Non-current Assets Held for Sale and Discontinued Operations.

[Refer:Basis for Conclusions paragraphs BC8A⁠–⁠BC8E]

This IFRS does not apply to:

(a)

post‑employment benefit plans or other long‑term employee benefit plans to which IAS 19 Employee Benefits applies.

(b)

an entity’s separate financial statements to which IAS 27 Separate Financial Statements applies. However:

(i)	if an entity has interests in unconsolidated structured entities and prepares separate financial statements as its only financial statements, it shall apply the requirements in paragraphs 24⁠–⁠31 when preparing those separate financial statements.
(ii)	an investment entity that prepares financial statements in which all of its subsidiaries are measured at fair value through profit or loss in accordance with paragraph 31 of IFRS 10 shall present the disclosures relating to investment entities required by this IFRS. [Refer:Basis for Conclusions paragraph BC61I]

(c)

an interest held by an entity that participates in, but does not have joint control of, a joint arrangement unless that interest results in significant influence over the arrangement or is an interest in a structured entity.

(d)

an interest in another entity that is accounted for in accordance with IFRS 9 Financial Instruments. However, an entity shall apply this IFRS:

(i)	when that interest is an interest in an associate or a joint venture that, in accordance with IAS 28 Investments in Associates and Joint Ventures, is measured at fair value [Refer:IFRS 13] through profit or loss; or
(ii)	when that interest is an interest in an unconsolidated structured entity.

Significant judgements and assumptions

[Refer:Basis for Conclusions paragraphs BC14⁠–⁠BC19]

An entity shall disclose information about significant judgements and assumptions it has made (and changes to those judgements and assumptions) in determining:

(a)	that it has control of another entity, ie an investee as described in paragraphs 5 and 6 of IFRS 10 Consolidated Financial Statements;
(b)	that it has joint control of an arrangement or significant influence over another entity; and
(c)	the type of joint arrangement (ie joint operation or joint venture) when the arrangement has been structured through a separate vehicle.


Disclosure of significant judgements and assumptions made in relation to interests in other entities [text block] _Disclosure	Text block		825700

8	The significant judgements and assumptions disclosed in accordance with paragraph 7 include those made by the entity when changes in facts and circumstances are such that the conclusion about whether it has control, joint control or significant influence changes during the reporting period.

To comply with paragraph 7, an entity shall disclose, for example, significant judgements and assumptions made in determining that:

(a)

it does not control another entity even though it holds more than half of the voting rights of the other entity.


Description of significant judgements and assumptions made in determining that entity does not control another entity even though it holds more than half of voting rights _Example	Text		825700

(b)

it controls another entity even though it holds less than half of the voting rights of the other entity.


Description of significant judgements and assumptions made in determining that entity controls another entity even though it holds less than half of voting rights _Example	Text		825700

(c)

it is an agent or a principal (see paragraphs B58⁠–⁠B72 of IFRS 10).


Description of significant judgements and assumptions made in determining that entity is agent or principal _Example	Text		825700

(d)

it does not have significant influence even though it holds 20 per cent or more of the voting rights of another entity.


Description of reasons why presumption investor has significant influence is overcome when its interest in investee is more than twenty per cent _Example	Text		825700

(e)

it has significant influence even though it holds less than 20 per cent of the voting rights of another entity.


Description of reasons why presumption investor does not have significant influence is overcome when its interest in investee is less than twenty per cent _Example	Text		825700

Investment entity status

When a parent determines that it is an investment entity in accordance with paragraph 27 of IFRS 10, the investment entity shall disclose information about significant judgements and assumptions it has made in determining that it is an investment entity. If the investment entity does not have one or more of the typical characteristics of an investment entity (see paragraph 28 of IFRS 10), it shall disclose its reasons for concluding that it is nevertheless an investment entity.

[Refer:Basis for Conclusions paragraph BC61E]


Description of reasons for concluding that entity is investment entity if it does not have one or more typical characteristics _Disclosure	Text		825700
Information about significant judgements and assumptions made in determining that entity is investment entity _Disclosure	Text		825700

When an entity becomes, or ceases to be, an investment entity, it shall disclose the change of investment entity status and the reasons for the change. In addition, an entity that becomes an investment entity shall disclose the effect of the change of status on the financial statements for the period presented, including:

(a)

the total fair value, as of the date of change of status, of the subsidiaries that cease to be consolidated;


Fair value of subsidiaries that cease to be consolidated as of date of change of investment entity status _Disclosure	Monetary_{Instant, Debit}		825700

(b)

the total gain or loss, if any, calculated in accordance with paragraph B101 of IFRS 10; and


Gain (loss) on cessation of consolidation of subsidiaries due to change of investment entity status _Disclosure	Monetary_{Duration, Credit}		825700

(c)

the line item(s) in profit or loss in which the gain or loss is recognised (if not presented separately).


Description of line item(s) in profit or loss in which gain (loss) on cessation of consolidation of subsidiaries is recognised _Disclosure	Text		825700


Description of change of investment entity status _Disclosure	Text	825700
Description of reasons for change of investment entity status _Disclosure	Text	825700
Disclosure of effect of change of investment entity status on financial statements [text block] _Disclosure	Text block	825700

Interests in subsidiaries

An entity shall disclose information that enables users [Refer:Conceptual Framework paragraphs 1.2⁠–⁠1.10 and 2.36] of its consolidated financial statements

(a)

to understand:

(i)

the composition of the group; and


Disclosure of composition of group [text block] _Disclosure	Text block		825700

(ii)

the interest that non‑controlling interests have in the group’s activities and cash flows (paragraph 12); and

[Refer:Basis for Conclusions paragraphs BC21⁠–⁠BC29]

(b)

to evaluate:

(i)	the nature and extent of significant restrictions on its ability to access or use assets, and settle liabilities, of the group (paragraph 13); [Refer:Basis for Conclusions paragraphs BC30⁠–⁠BC33]
(ii)	the nature of, and changes in, the risks associated with its interests in consolidated structured entities (paragraphs 14⁠–⁠17); [Refer:Basis for Conclusions paragraphs BC34⁠–⁠BC36]
(iii)	the consequences of changes in its ownership interest in a subsidiary that do not result in a loss of control (paragraph 18); and [Refer:Basis for Conclusions paragraphs BC37⁠–⁠BC40]
(iv)	the consequences of losing control of a subsidiary during the reporting period (paragraph 19). [Refer:Basis for Conclusions paragraph BC41]

When the financial statements of a subsidiary used in the preparation of consolidated financial statements are as of a date or for a period that is different from that of the consolidated financial statements (see paragraphs B92 and B93 of IFRS 10), an entity shall disclose:

(a)

the date of the end of the reporting period of the financial statements of that subsidiary; and


Date of end of reporting period of financial statements of subsidiary _Disclosure	Date		825700

(b)

the reason for using a different date or period.


Description of reason why using different reporting date or period for subsidiary _Disclosure	Text		825700

The interest that non-controlling interests have in the group’s activities and cash flows

An entity shall disclose for each of its subsidiaries that have non‑controlling interests that are material to the reporting entity:E1

(a)

the name of the subsidiary.


Name of subsidiary _Disclosure	Text	IAS 27.16 b (i) _Disclosure IAS 27.17 b (i) _Disclosure IFRS 12.19B a _Disclosure	825480, 825700

(b)

the principal place of business (and country of incorporation if different from the principal place of business) of the subsidiary.


Country of incorporation of subsidiary _Disclosure	Text	IAS 27.16 b (ii) _Disclosure IAS 27.17 b (ii) _Disclosure IFRS 12.19B b _Disclosure	825480, 825700
Principal place of business of subsidiary _Disclosure	Text	IAS 27.16 b (ii) _Disclosure IAS 27.17 b (ii) _Disclosure IFRS 12.19B b _Disclosure	825480, 825700

(c)

the proportion of ownership interests held by non‑controlling interests.


Proportion of ownership interests held by non-controlling interests _Disclosure	Percent		825700

(d)

the proportion of voting rights held by non‑controlling interests, if different from the proportion of ownership interests held.


Proportion of voting rights held by non-controlling interests _Disclosure	Percent		825700

(e)

the profit or loss allocated to non‑controlling interests of the subsidiary during the reporting period.


Profit (loss), attributable to non-controlling interests _Disclosure	Monetary_{Duration, Credit}	IAS 1.81B a (i) _Disclosure	310000, 320000, 825700

(f)

accumulated non‑controlling interests of the subsidiary at the end of the reporting period.


Non-controlling interests _Disclosure	Monetary_{Instant, Credit}	IAS 1.54 q _Disclosure IFRS 10.22 _Disclosure	210000, 220000, 825700

(g)

summarised financial information about the subsidiary (see paragraph B10). [Refer:paragraphs B11 and B17]

[Refer:Basis for Conclusions paragraphs BC21⁠–⁠B29]


Subsidiaries with material non-controlling interests [member] _Disclosure	Member		825700

[IFRIC® Update, January 2015, Agenda Decision, ‘IFRS 12 Disclosure of Interests in Other Entities—disclosures for a subsidiary with a material non-controlling interest’

The Interpretations Committee received a request for clarification in respect of the requirements in paragraphs 12(e)⁠–⁠(g) of IFRS 12 Disclosure of Interests in Other Entities to disclose information about a subsidiary that has non-controlling interests that are material to the reporting entity.

The submitter asked whether the information required by paragraphs 12(e)⁠–⁠(g) should be provided:

(a)

at the subsidiary level (ie the ‘legal’ entity) and be based on the separate financial statements of the individual subsidiary; or

(b)

at a subgroup level for the subgroup of the subsidiary together with its investees and be based either on (i) the amounts of the subgroup included in the consolidated financial statements of the reporting entity; or (ii) the amounts included in consolidated financial statements of the subgroup; noting that transactions and balances between the subgroup and other entities outside the subgroup would not be eliminated.

The Interpretations Committee noted that, within the context of the disclosure objective in paragraph 10 of IFRS 12, materiality should be assessed by the reporting entity on the basis of the consolidated financial statements of the reporting entity. In this assessment, a reporting entity would consider both quantitative considerations (ie the size of the subsidiary) and qualitative considerations (ie the nature of the subsidiary).

The Interpretations Committee noted that the decision on which approach is used to present the disclosures required by paragraphs 12(e)⁠–⁠(g) should reflect the one that best meets the disclosure objective of paragraph 10 of IFRS 12 in the circumstances. According to this objective, ‘An entity shall disclose information that enables users of its consolidated financial statements to understand (i) the composition of the group; and (ii) the interest that non-controlling interests have in the group’s activities and cash flows’.

The Interpretations Committee observed that this judgement would be made separately for each subsidiary or subgroup that has a material non-controlling interest.

Disclosures required by paragraphs 12(e) and (f) of IFRS 12

The Interpretations Committee observed that a reporting entity would meet the requirements in paragraphs 12(e) and (f) by disclosing disaggregated information from the amounts included in the consolidated financial statements of the reporting entity in respect of subsidiaries that have non-controlling interests that are material to the reporting entity. The Interpretations Committee further observed that a reporting entity should apply judgement in determining the level of disaggregation of this information; that is, whether:

(a)	the entity presents this information about the subgroup of the subsidiary that has a material non-controlling interest (present the required information on the basis of the subsidiary together with its investees); or
(b)	it is necessary in achieving the disclosure objective in paragraph 10 of IFRS 12 to disaggregate the information further to present information about individual subsidiaries that have material non-controlling interests within that subgroup.

Disclosures required by paragraph 12(g) of IFRS 12

The Interpretations Committee observed that:

(a)	paragraph 12(g) requires summarised information about the subsidiaries that have non-controlling interests that are material to the reporting entity;
(b)	paragraph B10(b) states that an entity shall disclose ‘summarised financial information about the assets, liabilities, profit or loss and cash flows of the subsidiary that enables users to understand the interest that non-controlling interests have in the group’s activities and cash flows. That information might include but is not limited to, for example, current assets, non-current assets, current liabilities, non-current liabilities, revenue, profit or loss and total comprehensive income’; and
(c)	paragraph B11 states that the ‘summarised financial information required by paragraph B10(b) shall be the amounts before inter-company eliminations’.

The Interpretations Committee observed that in order to meet the disclosure objective in paragraph B10(b), that information would need to be prepared on a basis that was consistent with the information included in the consolidated financial statements of the reporting entity. The Interpretations Committee understood this to mean that the information would be prepared from the perspective of the reporting entity. For example, if the subsidiary was acquired in a business combination, the amounts disclosed should reflect the effects of the acquisition accounting.

The Interpretations Committee further observed that in providing the information required by paragraph 12(g) the entity would apply judgement in determining whether:

(a)	the entity presents this information about the subgroup of the subsidiary that has a material non-controlling interest (ie, it presents the required information on the basis of the subsidiary together with its investees); or
(b)	it is necessary in achieving the disclosure objective in paragraph 10 of IFRS 12 to disaggregate the information further to present information about individual subsidiaries that have material non-controlling interests within that subgroup.

However, the Interpretations Committee noted that the information provided in respect of paragraph 12(g) would include transactions between the subgroup/subsidiary and other members of the reporting entity’s group without elimination in order to meet the requirements in paragraph B11 of IFRS 12. The transactions within the subgroup would be eliminated.

On the basis of this analysis, the Interpretations Committee determined that, in the light of the existing IFRS requirements, sufficient guidance exists and that neither an Interpretation nor an amendment to a Standard was necessary. Consequently, the Interpretations Committee decided not to add this issue to its agenda.]

The nature and extent of significant restrictions

An entity shall disclose:

(a)

significant restrictions (eg statutory, contractual and regulatory restrictions) on its ability to access or use the assets and settle the liabilities of the group, such as:

(i)	those that restrict the ability of a parent or its subsidiaries to transfer cash or other assets to (or from) other entities within the group.
(ii)	guarantees or other requirements that may restrict dividends and other capital distributions being paid, or loans and advances being made or repaid, to (or from) other entities within the group.


Description of significant restrictions on entity's ability to access or use assets and settle liabilities of group _Disclosure	Text		825700

(b)

the nature and extent to which protective rights of non‑controlling interests can significantly restrict the entity’s ability to access or use the assets and settle the liabilities of the group (such as when a parent is obliged to settle liabilities of a subsidiary before settling its own liabilities, or approval of non‑controlling interests is required either to access the assets or to settle the liabilities of a subsidiary).


Description of nature and extent to which protective rights of non-controlling interests can significantly restrict entity's ability to access or use assets and settle liabilities of group _Disclosure	Text		825700

(c)

the carrying amounts in the consolidated financial statements of the assets and liabilities to which those restrictions apply.


Assets to which significant restrictions apply _Disclosure	Monetary_{Instant, Debit}		825700
Liabilities to which significant restrictions apply _Disclosure	Monetary_{Instant, Credit}		825700

[Refer:Basis for Conclusions paragraphs BC30⁠–⁠BC33]

Nature of the risks associated with an entity’s interests in consolidated structured entities

[Refer:Basis for Conclusions paragraphs BC34⁠–⁠BC36]

An entity shall disclose the terms of any contractual arrangements that could require the parent or its subsidiaries to provide financial support to a consolidated structured entity, including events or circumstances that could expose the reporting entity to a loss (eg liquidity arrangements or credit rating triggers associated with obligations to purchase assets of the structured entity or provide financial support).


Description of terms of contractual arrangements that could require parent or subsidiaries to provide financial support to structured entity _Disclosure	Text	IFRS 12.B26 a _Example	825700

If during the reporting period a parent or any of its subsidiaries has, without having a contractual obligation to do so, provided financial or other support to a consolidated structured entity (eg purchasing assets of or instruments issued by the structured entity), the entity shall disclose:

(a)

the type and amount of support provided, including situations in which the parent or its subsidiaries assisted the structured entity in obtaining financial support; and


Description of type of support provided to structured entity without having contractual obligation to do so _Disclosure	Text	IFRS 12.30 a _Disclosure	825700
Support provided to structured entity without having contractual obligation to do so _Disclosure	Monetary_Duration	IFRS 12.30 a _Disclosure	825700

(b)

the reasons for providing the support.


Description of reasons for providing support to structured entity without having contractual obligation to do so _Disclosure	Text	IFRS 12.30 b _Disclosure	825700

If during the reporting period a parent or any of its subsidiaries has, without having a contractual obligation to do so, provided financial or other support to a previously unconsolidated structured entity and that provision of support resulted in the entity controlling the structured entity, the entity shall disclose an explanation of the relevant factors in reaching that decision. [Refer:Basis for Conclusions paragraphs BC102⁠–⁠BC106]


Explanation of factors in reaching decision to provide support to previously unconsolidated structured entity that resulted in obtaining control _Disclosure	Text		825700

An entity shall disclose any current intentions to provide financial or other support to a consolidated structured entity, including intentions to assist the structured entity in obtaining financial support.

[Refer:Basis for Conclusions paragraph BC106]


Description of intentions to provide support to structured entity _Disclosure	Text	IFRS 12.31 _Disclosure	825700

Consequences of changes in a parent’s ownership interest in a subsidiary that do not result in a loss of control

An entity shall present a schedule that shows the effects on the equity attributable to owners of the parent of any changes in its ownership interest in a subsidiary that do not result in a loss of control.

[Refer:Basis for Conclusions paragraphs BC37⁠–⁠BC40]


Disclosure of effects of changes in parent's ownership interest in subsidiary that do not result in loss of control on equity attributable to owners of parent [text block] _Disclosure	Text block		825700
Increase (decrease) through changes in ownership interests in subsidiaries that do not result in loss of control, equity attributable to owners of parent _Disclosure	Monetary_{Duration, Credit}		825700

Consequences of losing control of a subsidiary during the reporting period

An entity shall disclose the gain or loss, if any, calculated in accordance with paragraph 25 of IFRS 10, and:

(a)

the portion of that gain or loss attributable to measuring any investment retained in the former subsidiary at its fair value [Refer:IFRS 13] at the date when control is lost [Refer:paragraph 10(b)(iv)]; and


Portion of gains (losses) recognised when control of subsidiary is lost, attributable to recognising investment retained in former subsidiary _Disclosure	Monetary_{Duration, Credit}		825700

(b)

the line item(s) in profit or loss in which the gain or loss is recognised (if not presented separately).


Description of line item(s) in profit or loss in which gain (loss) is recognised when control of subsidiary is lost _Disclosure	Text		825700

[Refer:Basis for Conclusions paragraph BC41]


Gains (losses) recognised when control of subsidiary is lost _Disclosure	Monetary_{Duration, Credit}		825700

Interests in unconsolidated subsidiaries (investment entities)

19A

An investment entity that, in accordance with IFRS 10, is required to apply the exception to consolidation and instead account for its investment in a subsidiary at fair value through profit or loss shall disclose that fact.


Statement that investment entity is required to apply exception from consolidation _Disclosure	Text		825700

19B

For each unconsolidated subsidiary, an investment entity shall disclose:

(a)

the subsidiary’s name;


Name of subsidiary _Disclosure	Text	IAS 27.16 b (i) _Disclosure IAS 27.17 b (i) _Disclosure IFRS 12.12 a _Disclosure	825480, 825700

(b)

the principal place of business (and country of incorporation if different from the principal place of business) of the subsidiary; and


Country of incorporation of subsidiary _Disclosure	Text	IAS 27.16 b (ii) _Disclosure IAS 27.17 b (ii) _Disclosure IFRS 12.12 b _Disclosure	825480, 825700
Principal place of business of subsidiary _Disclosure	Text	IAS 27.16 b (ii) _Disclosure IAS 27.17 b (ii) _Disclosure IFRS 12.12 b _Disclosure	825480, 825700

(c)

the proportion of ownership interest held by the investment entity and, if different, the proportion of voting rights held.


Proportion of ownership interest in subsidiary _Disclosure	Percent	IAS 27.16 b (iii) _Disclosure IAS 27.17 b (iii) _Disclosure	825480, 825700
Proportion of voting rights held in subsidiary _Disclosure	Percent	IAS 27.16 b (iii) _Disclosure IAS 27.17 b (iii) _Disclosure	825480, 825700


Disclosure of information about unconsolidated subsidiaries [table] _Disclosure	Table	825700
Disclosure of information about unconsolidated subsidiaries [text block] _Disclosure	Text block	825700
Entity's total for unconsolidated subsidiaries [member] _Disclosure	Member	825700, 990000
Unconsolidated subsidiaries [axis] _Disclosure	Axis	825700, 990000
Unconsolidated subsidiaries [member] _Disclosure	Member	825700
Unconsolidated subsidiaries that investment entity controls directly [member] _Disclosure	Member	825700

19C

If an investment entity is the parent of another investment entity, the parent shall also provide the disclosures in 19B(a)⁠–⁠(c) for investments that are controlled by its investment entity subsidiary. The disclosure may be provided by including, in the financial statements of the parent, the financial statements of the subsidiary (or subsidiaries) that contain the above information.


Unconsolidated subsidiaries controlled by subsidiaries of investment entity [member] _Disclosure	Member		825700

19D

An investment entity shall disclose:

(a)

the nature and extent of any significant restrictions (eg resulting from borrowing arrangements, regulatory requirements or contractual arrangements) on the ability of an unconsolidated subsidiary to transfer funds to the investment entity in the form of cash dividends or to repay loans or advances made to the unconsolidated subsidiary by the investment entity; and

[Refer:Basis for Conclusions paragraph BC61G]


Description of nature and extent of significant restrictions on transfer of funds to entity _Disclosure	Text	IFRS 12.22 a _Disclosure	825700

(b)

any current commitments or intentions to provide financial or other support to an unconsolidated subsidiary, including commitments or intentions to assist the subsidiary in obtaining financial support.


Description of current commitments or intentions to provide support to subsidiary _Disclosure	Text		825700

19E

If, during the reporting period, an investment entity or any of its subsidiaries has, without having a contractual obligation to do so, provided financial or other support to an unconsolidated subsidiary (eg purchasing assets of, or instruments issued by, the subsidiary or assisting the subsidiary in obtaining financial support), the entity shall disclose:

(a)

the type and amount of support provided to each unconsolidated subsidiary; and


Description of type of support provided to subsidiary by investment entity or its subsidiaries without having contractual obligation to do so _Disclosure	Text		825700
Support provided to subsidiary by investment entity or its subsidiaries without having contractual obligation to do so _Disclosure	Monetary_Duration		825700

(b)

the reasons for providing the support.


Description of reasons for providing support to subsidiary by investment entity or its subsidiaries without having contractual obligation to do so _Disclosure	Text		825700

[Refer:Basis for Conclusions paragraph BC61G]

19F

An investment entity shall disclose the terms of any contractual arrangements that could require the entity or its unconsolidated subsidiaries to provide financial support to an unconsolidated, controlled, structured entity, including events or circumstances that could expose the reporting entity to a loss (eg liquidity arrangements or credit rating triggers associated with obligations to purchase assets of the structured entity or to provide financial support).

[Refer:Basis for Conclusions paragraph BC61G]


Description of terms of contractual arrangements that could require investment entity or its subsidiaries to provide financial support to unconsolidated structured entity controlled by investment entity _Disclosure	Text	825700
Disclosure of information about unconsolidated structured entities controlled by investment entity [table] _Disclosure	Table	825700
Disclosure of information about unconsolidated structured entities controlled by investment entity [text block] _Disclosure	Text block	825700
Unconsolidated structured entities controlled by investment entity [axis] _Disclosure	Axis	825700, 990000
Unconsolidated structured entities controlled by investment entity [member] _Disclosure	Member	825700, 990000

19G

If during the reporting period an investment entity or any of its unconsolidated subsidiaries has, without having a contractual obligation to do so, provided financial or other support to an unconsolidated, structured entity that the investment entity did not control, and if that provision of support resulted in the investment entity controlling the structured entity, the investment entity shall disclose an explanation of the relevant factors in reaching the decision to provide that support.


Explanation of relevant factors in reaching decision to provide support that resulted in controlling unconsolidated structured entity _Disclosure	Text		825700

Interests in joint arrangements and associates

An entity shall disclose information that enables users [Refer:Conceptual Framework paragraphs 1.2⁠–⁠1.10 and 2.36] of its financial statements to evaluate:

(a)	the nature, extent and financial effects of its interests in joint arrangements and associates, including the nature and effects of its contractual relationship with the other investors with joint control of, or significant influence over, joint arrangements and associates (paragraphs 21 and 22); and
(b)	the nature of, and changes in, the risks associated with its interests in joint ventures and associates (paragraph 23).

[Refer:Basis for Conclusions paragraphs BC42, BC43, BC59 and BC60]

Nature, extent and financial effects of an entity’s interests in joint arrangements and associates

[Refer:Basis for Conclusions paragraphs BC44⁠–⁠BC46]

An entity shall disclose:

(a)

for each joint arrangement and associate that is material to the reporting entity:

(i)

the name of the joint arrangement or associate.


Name of associate _Disclosure	Text	IAS 27.16 b (i) _Disclosure IAS 27.17 b (i) _Disclosure	825480, 825700
Name of joint operation _Disclosure	Text		825700
Name of joint venture _Disclosure	Text	IAS 27.16 b (i) _Disclosure IAS 27.17 b (i) _Disclosure	825480, 825700

(ii)

the nature of the entity’s relationship with the joint arrangement or associate (by, for example, describing the nature of the activities of the joint arrangement or associate and whether they are strategic to the entity’s activities).


Description of nature of entity's relationship with associate _Disclosure	Text	825700
Description of nature of entity's relationship with joint operation _Disclosure	Text	825700
Description of nature of entity's relationship with joint venture _Disclosure	Text	825700

(iii)

the principal place of business (and country of incorporation, if applicable and different from the principal place of business) of the joint arrangement or associate.


Country of incorporation of associate _Disclosure	Text	IAS 27.16 b (ii) _Disclosure IAS 27.17 b (ii) _Disclosure	825480, 825700
Country of incorporation of joint operation _Disclosure	Text		825700
Country of incorporation of joint venture _Disclosure	Text	IAS 27.16 b (ii) _Disclosure IAS 27.17 b (ii) _Disclosure	825480, 825700
Principal place of business of associate _Disclosure	Text	IAS 27.16 b (ii) _Disclosure IAS 27.17 b (ii) _Disclosure	825480, 825700
Principal place of business of joint operation _Disclosure	Text		825700
Principal place of business of joint venture _Disclosure	Text	IAS 27.16 b (ii) _Disclosure IAS 27.17 b (ii) _Disclosure	825480, 825700

(iv)

the proportion of ownership interest or participating share held by the entity and, if different, the proportion of voting rights held (if applicable).


Proportion of ownership interest in associate _Disclosure	Percent	IAS 27.16 b (iii) _Disclosure IAS 27.17 b (iii) _Disclosure	825480, 825700
Proportion of ownership interest in joint operation _Disclosure	Percent		825700
Proportion of ownership interest in joint venture _Disclosure	Percent	IAS 27.16 b (iii) _Disclosure IAS 27.17 b (iii) _Disclosure	825480, 825700
Proportion of voting rights held in associate _Disclosure	Percent	IAS 27.16 b (iii) _Disclosure IAS 27.17 b (iii) _Disclosure	825480, 825700
Proportion of voting rights held in joint operation _Disclosure	Percent		825700
Proportion of voting rights held in joint venture _Disclosure	Percent	IAS 27.16 b (iii) _Disclosure IAS 27.17 b (iii) _Disclosure	825480, 825700

(b)

for each joint venture and associate that is material to the reporting entity:

(i)

whether the investment in the joint venture or associate is measured using the equity method [Refer:IAS 28] or at fair value [Refer:IFRS 13].


Description of whether investment in associate is measured using equity method or at fair value _Disclosure	Text		825700
Description of whether investment in joint venture is measured using equity method or at fair value _Disclosure	Text		825700

(ii)

summarised financial information about the joint venture or associate as specified in paragraphs B12 and B13.E2 [Refer:paragraphs B14, B15 and B17 and Basis for Conclusions paragraphs BC47⁠–⁠BC52]

(iii)

if the joint venture or associate is accounted for using the equity method, the fair value of its investment in the joint venture or associate, if there is a quoted market price for the investment. [Refer:Basis for Conclusions paragraph BC61]


Fair value of investments in associates for which there are quoted market prices _Disclosure	Monetary_{Instant, Debit}		825700
Fair value of investments in joint ventures for which there are quoted market prices _Disclosure	Monetary_{Instant, Debit}		825700

(c)

financial information as specified in paragraph B16 about the entity’s investments in joint ventures and associates that are not individually material:

(i)

in aggregate for all individually immaterial joint ventures and, separately,


Aggregated individually immaterial joint ventures [member] _Disclosure	Member		825700, 836500

(ii)

in aggregate for all individually immaterial associates.


Aggregated individually immaterial associates [member] _Disclosure	Member		825700, 836500

[IFRIC® Update, January 2015, Agenda Decision, ‘IFRS 12 Disclosure of Interests in Other Entities—Disclosure of summarised financial information about material joint ventures or associates’

The Interpretations Committee received a request to clarify the requirement to disclose summary financial information on material joint ventures or associates in paragraph 21(b)(ii) of IFRS 12 Disclosure of Interests in Other Entities and its interaction with the aggregation principle in paragraphs 4 and B2⁠–⁠B6 of IFRS 12.

The submitter asserts that there are two ways in which to interpret the application of those paragraphs. Either the information required in paragraph 21(b)(ii) of IFRS 12 can be disclosed in aggregate for all material joint ventures or associates, or such information should be disclosed individually for each material joint venture or associate.

The submitter also asked the Interpretations Committee to clarify the requirements in paragraph 21(b)(ii) of IFRS 12 when the information relates to a listed joint venture or associate, and local regulatory requirements would prevent the investor from disclosing such information until the joint venture or associate has released its own financial statements. Would the investor be excused from disclosing the information?

The Interpretations Committee noted that it expected the requirement in paragraph 21(b)(ii) of IFRS 12 to lead to the disclosure of summarised information on an individual basis for each joint venture or associate that is material to the reporting entity (ie this information should not be presented in aggregate for all material joint ventures or associates). The Interpretations Committee observed that this reflects the IASB's intentions as described in paragraph BC50 of IFRS 12.

The Interpretations Committee also noted that there is no provision in IFRS 12 that permits the non-disclosure of the information required in paragraph 21(b)(ii) of IFRS 12.

The Interpretations Committee was made aware of another concern relating to the disclosures required by IFRS 12 for joint ventures or associates in paragraphs 21(b)(ii), and paragraphs B12 and B13. Some think that these paragraphs do not specify the basis on which an entity should prepare the required summarised financial information for joint ventures and associates. The question raised is whether this information should be presented for each material joint venture or associate on an individual basis, or whether this information should be disclosed for the subgroup of the joint venture or associate together with its investees.

The Interpretations Committee observed that a reporting entity should present the summarised financial information required by paragraph 21(b)(ii) about a joint venture or an associate that is material to the reporting entity based on the consolidated financial statements for the joint venture or associate, if it has subsidiaries. If it does not have subsidiaries, the presentation should be based on the financial statements of the joint venture or associate in which its own joint ventures or associates are equity-accounted. The Interpretations Committee noted that these views are consistent with paragraph B14(a), which states that ‘the amounts included in the IFRS financial statements of the joint venture or associate shall be adjusted to reflect adjustments made by the entity using the equity method, such as fair value adjustments made at the time of acquisition and adjustments for differences in accounting policies’.

The Interpretations Committee analysed the results of the outreach request performed by the staff. This outreach indicated that no significant diversity has been observed in the application of IFRS 12 related to these issues.

In the light of the existing IFRS requirements, and on the basis of the outreach results received, the Interpretations Committee determined that neither an Interpretation nor an amendment to a Standard was necessary and therefore decided not to add this issue to its agenda.]

21A	An investment entity need not provide the disclosures required by paragraphs 21(b)⁠–⁠21(c). [Refer:Basis for Conclusions paragraph BC61F]

An entity shall also disclose:

(a)

the nature and extent of any significant restrictions (eg resulting from borrowing arrangements, regulatory requirements or contractual arrangements between investors with joint control of or significant influence over a joint venture or an associate) on the ability of joint ventures or associates to transfer funds to the entity in the form of cash dividends, or to repay loans or advances made by the entity.


Description of nature and extent of significant restrictions on transfer of funds to entity _Disclosure	Text	IFRS 12.19D a _Disclosure	825700

(b)

when the financial statements of a joint venture or associate used in applying the equity method are as of a date or for a period that is different from that of the entity:

(i)

the date of the end of the reporting period of the financial statements of that joint venture or associate; and


Date of end of reporting period of financial statements of associate _Disclosure	Date		825700
Date of end of reporting period of financial statements of joint venture _Disclosure	Date		825700

(ii)

the reason for using a different date or period.


Description of reason why using different reporting date or period for associate _Disclosure	Text		825700
Description of reason why using different reporting date or period for joint venture _Disclosure	Text		825700

(c)

the unrecognised share of losses of a joint venture or associate, both for the reporting period and cumulatively, if the entity has stopped recognising its share of losses of the joint venture or associate when applying the equity method.


Cumulative unrecognised share of losses of associates _Disclosure	Monetary_{Instant, Credit}	825700
Cumulative unrecognised share of losses of joint ventures _Disclosure	Monetary_{Instant, Credit}	825700
Unrecognised share of losses of associates _Disclosure	Monetary_{Duration, Debit}	825700
Unrecognised share of losses of joint ventures _Disclosure	Monetary_{Duration, Debit}	825700

Risks associated with an entity’s interests in joint ventures and associates

An entity shall disclose:

(a)

commitments that it has relating to its joint ventures separately from the amount of other commitments as specified in paragraphs B18⁠–⁠B20. [Refer:Basis for Conclusions paragraphs BC53⁠–⁠BC56]


Commitments in relation to joint ventures _Disclosure	Monetary_{Instant, Credit}		825700

(b)

in accordance with IAS 37 Provisions, Contingent Liabilities and Contingent Assets, unless the probability of loss is remote, contingent liabilities incurred relating to its interests in joint ventures or associates (including its share of contingent liabilities incurred jointly with other investors with joint control of, or significant influence over, the joint ventures or associates), separately from the amount of other contingent liabilities.

[Refer:Basis for Conclusions paragraphs BC57 and BC58]


Contingent liabilities incurred in relation to interests in associates _Disclosure	Monetary_{Instant, Credit}	825700
Contingent liabilities incurred in relation to interests in joint ventures _Disclosure	Monetary_{Instant, Credit}	825700
Share of contingent liabilities of associates incurred jointly with other investors _Disclosure	Monetary_{Instant, Credit}	825700
Share of contingent liabilities of joint ventures incurred jointly with other investors _Disclosure	Monetary_{Instant, Credit}	825700

Interests in unconsolidated structured entities

[Refer:Appendix A (definition of a structured entity) and Basis for Conclusions paragraphs BC82⁠–⁠BC85 for the definition of a structured entity and to paragraphs B22⁠–⁠B24 for further information about structured entities]

[Refer:Basis for Conclusions paragraphs BC78⁠–⁠BC81 for information about ‘interest in’ unconsolidated structured entities]

[Refer:Basis for Conclusions paragraphs BC62⁠–⁠BC77 for the need for the disclosure requirements set out in paragraphs 24⁠–⁠31, B25 and B26]

An entity shall disclose information that enables users [Refer:Conceptual Framework paragraphs 1.2⁠–⁠1.10 and 2.36] of its financial statements:

(a)	to understand the nature and extent of its interests in unconsolidated structured entities (paragraphs 26⁠–⁠28); and
(b)	to evaluate the nature of, and changes in, the risks associated with its interests in unconsolidated structured entities (paragraphs 29⁠–⁠31). [Refer:paragraphs B25 and B26]

The information required by paragraph 24(b) includes information about an entity’s exposure to risk from involvement that it had with unconsolidated structured entities in previous periods (eg sponsoring the structured entity), even if the entity no longer has any contractual involvement with the structured entity at the reporting date.

[Refer:Basis for Conclusions paragraph BC110]

25A	An investment entity need not provide the disclosures required by paragraph 24 for an unconsolidated structured entity that it controls and for which it presents the disclosures required by paragraphs 19A⁠–⁠19G. [Refer:Basis for Conclusions paragraph BC61F]

Nature of interests

An entity shall disclose qualitative and quantitative information about its interests in unconsolidated structured entities, including, but not limited to, the nature, purpose, size and activities of the structured entity and how the structured entity is financed.

[Refer:Basis for Conclusions paragraph BC96]


Disclosure of information about interests in structured entity [text block] _Disclosure	Text block		825700

If an entity has sponsored an unconsolidated structured entity for which it does not provide information required by paragraph 29 (eg because it does not have an interest in the entity at the reporting date), the entity shall disclose:

(a)

how it has determined which structured entities it has sponsored;


Description of how entity determined which structured entities it sponsored _Disclosure	Text		825700

(b)

income from those structured entities during the reporting period, including a description of the types of income presented; and


Description of types of income from structured entities _Disclosure	Text	IFRS 12.B26 c _Example	825700
Income from structured entities _Disclosure	Monetary_{Duration, Credit}		825700

(c)

the carrying amount (at the time of transfer) of all assets transferred to those structured entities during the reporting period.


Assets transferred to structured entities, at time of transfer _Disclosure	Monetary_{Duration, Credit}		825700

[Refer:Basis for Conclusions paragraphs BC86⁠–⁠BC91]

28	An entity shall present the information in paragraph 27(b) and (c) in tabular format, unless another format is more appropriate, and classify its sponsoring activities into relevant categories (see paragraphs B2⁠–⁠B6).

Nature of risks

[Refer:

paragraphs B25 and B26

Basis for Conclusions paragraphs BC92⁠–⁠BC114]

An entity shall disclose in tabular format, unless another format is more appropriate, a summary of:

(a)

the carrying amounts of the assets and liabilities recognised in its financial statements relating to its interests in unconsolidated structured entities.


Assets recognised in entity's financial statements in relation to structured entities _Disclosure	Monetary_{Instant, Debit}		825700
Liabilities recognised in entity's financial statements in relation to structured entities _Disclosure	Monetary_{Instant, Credit}		825700

(b)

the line items in the statement of financial position in which those assets and liabilities are recognised.


Description of line items in statement of financial position in which assets and liabilities recognised in relation to structured entities are recognised _Disclosure	Text		825700

(c)

the amount that best represents the entity’s maximum exposure to loss from its interests in unconsolidated structured entities, including how the maximum exposure to loss is determined. If an entity cannot quantify its maximum exposure to loss from its interests in unconsolidated structured entities it shall disclose that fact and the reasons. [Refer:Basis for Conclusions paragraphs BC97⁠–⁠BC99 and BC101]


Description of fact and reasons why maximum exposure to loss from interests in structured entities cannot be quantified _Disclosure	Text	825700
Information about how maximum exposure to loss from interests in structured entities is determined _Disclosure	Text	825700
Maximum exposure to loss from interests in structured entities _Disclosure	Monetary_Instant	825700

(d)

a comparison of the carrying amounts of the assets and liabilities of the entity that relate to its interests in unconsolidated structured entities and the entity’s maximum exposure to loss from those entities. [Refer:Basis for Conclusions paragraph BC100]


Description of comparison between assets and liabilities recognised in relation to structured entities and maximum exposure to loss from interests in structured entities _Disclosure	Text		825700

If during the reporting period an entity has, without having a contractual obligation to do so, provided financial or other support to an unconsolidated structured entity in which it previously had or currently has an interest (for example, purchasing assets of or instruments issued by the structured entity), the entity shall disclose [Refer:Basis for Conclusions paragraphs BC102⁠–⁠BC110]:

(a)

the type and amount of support provided, including situations in which the entity assisted the structured entity in obtaining financial support; and


Description of type of support provided to structured entity without having contractual obligation to do so _Disclosure	Text	IFRS 12.15 a _Disclosure	825700
Support provided to structured entity without having contractual obligation to do so _Disclosure	Monetary_Duration	IFRS 12.15 a _Disclosure	825700

(b)

the reasons for providing the support.


Description of reasons for providing support to structured entity without having contractual obligation to do so _Disclosure	Text	IFRS 12.15 b _Disclosure	825700

An entity shall disclose any current intentions to provide financial or other support to an unconsolidated structured entity, including intentions to assist the structured entity in obtaining financial support. [Refer:Basis for Conclusions paragraphs BC103 and BC104]


Description of intentions to provide support to structured entity _Disclosure	Text	IFRS 12.17 _Disclosure	825700

Appendices

Appendix ADefined terms

This appendix is an integral part of the IFRS.

income from a structured entity

For the purpose of this IFRS, income from a structured entity includes, but is not limited to, recurring and non‑recurring fees, interest, dividends, gains or losses on the remeasurement or derecognition of interests in structured entities and gains or losses from the transfer of assets and liabilities to the structured entity.

interest in another entity

For the purpose of this IFRS, an interest in another entity refers to contractual and non‑contractual involvement that exposes an entity to variability of returns from the performance of the other entity. An interest in another entity can be evidenced by, but is not limited to, the holding of equity or debt instruments as well as other forms of involvement such as the provision of funding, liquidity support, credit enhancement and guarantees. It includes the means by which an entity has control or joint control of, or significant influence over, another entity. An entity does not necessarily have an interest in another entity solely because of a typical customer supplier relationship.

Paragraphs B7⁠–⁠B9 provide further information about interests in other entities.

Paragraphs B55⁠–⁠B57 of IFRS 10 explain variability of returns.

[Refer:Basis for Conclusions paragraphs BC107⁠–⁠BC110]

structured entity

An entity that has been designed so that voting or similar rights are not the dominant factor in deciding who controls the entity, such as when any voting rights relate to administrative tasks only and the relevant activities are directed by means of contractual arrangements.

Paragraphs B22⁠–⁠B24 provide further information about structured entities.

[Refer:Basis for Conclusions paragraphs BC82⁠–⁠BC85]

The following terms are defined in IAS 27 (as amended in 2011), IAS 28 (as amended in 2011), IFRS 10 and IFRS 11 Joint Arrangements and are used in this IFRS with the meanings specified in those IFRSs:

associate [Refer:IAS 28 paragraph 3]
consolidated financial statements [Refer:IAS 27 paragraph 4, IAS 28 paragraph 3 and IFRS 10 Appendix A]
control of an entity [Refer:IFRS 10 Appendix A]
equity method [Refer:IAS 28 paragraph 3]
group [Refer:IFRS 10 Appendix A]
investment entity [Refer:IFRS 10 Appendix A]
joint arrangement [Refer:IAS 28 paragraph 3 and IFRS 11 Appendix A]
joint control [Refer:IAS 28 paragraph 3 and IFRS 11 Appendix A]
joint operation [Refer:IFRS 11 Appendix A]
joint venture [Refer:IAS 28 paragraph 3 and IFRS 11 Appendix A]
non‑controlling interest [Refer:IFRS 10 Appendix A]
parent [Refer:IFRS 10 Appendix A]
protective rights [Refer:IFRS 10 Appendix A]
relevant activities [Refer:IFRS 10 Appendix A]
separate financial statements [Refer:IAS 27 paragraph 4]
separate vehicle [Refer:IFRS 11 Appendix A]
significant influence [Refer:IAS 28 paragraph 3]
subsidiary. [Refer:IFRS 10 Appendix A]

Appendix BApplication guidance

This appendix is an integral part of the IFRS. It describes the application of paragraphs 1⁠–⁠31 and has the same authority as the other parts of the IFRS.

B1	The examples in this appendix portray hypothetical situations. Although some aspects of the examples may be present in actual fact patterns, all relevant facts and circumstances of a particular fact pattern would need to be evaluated when applying IFRS 12.

Aggregation (paragraph 4)

[Refer:Basis for Conclusions paragraphs BC80 and BC81]

An entity shall decide, in the light of its circumstances, how much detail it provides to satisfy the information needs of users, [Refer:Conceptual Framework paragraphs 1.2⁠–⁠1.10 and 2.36] how much emphasis it places on different aspects of the requirements and how it aggregates the information. It is necessary to strike a balance between burdening financial statements with excessive detail that may not assist users of financial statements and obscuring information as a result of too much aggregation.

An entity may aggregate the disclosures required by this IFRS for interests in similar entities if aggregation is consistent with the disclosure objective and the requirement in paragraph B4, and does not obscure the information provided. An entity shall disclose how it has aggregated its interests in similar entities.


Disclosure of how entity aggregated interests in similar entities [text block] _Disclosure	Text block		825700

An entity shall present information separately for interests in:

(a)

subsidiaries;


Disclosure of subsidiaries [table] _Disclosure	Table	IAS 27.16 b _Disclosure IAS 27.17 b _Disclosure	825480, 825700
Disclosure of subsidiaries [text block] _Disclosure	Text block	IAS 27.16 b _Disclosure IAS 27.17 b _Disclosure	800500, 825480, 825700
Entity's total for subsidiaries [member] _Disclosure	Member	IAS 27.16 b _Disclosure IAS 27.17 b _Disclosure	825480, 825700, 990000
Subsidiaries [axis] _Disclosure	Axis	IAS 27.16 b _Disclosure IAS 27.17 b _Disclosure	825480, 825700, 990000
Subsidiaries [member] _Disclosure	Member	IAS 24.19 c _Disclosure IAS 27.16 b _Disclosure IAS 27.17 b _Disclosure	818000, 825480, 825700

(b)

joint ventures;


Disclosure of joint ventures [table] _Disclosure	Table	IAS 27.16 b _Disclosure IAS 27.17 b _Disclosure	825480, 825700
Disclosure of joint ventures [text block] _Disclosure	Text block	IAS 27.16 b _Disclosure IAS 27.17 b _Disclosure	800500, 825480, 825700
Entity's total for joint ventures [member] _Disclosure	Member	IAS 27.16 b _Disclosure IAS 27.17 b _Disclosure	825480, 825700, 836500, 990000
Joint ventures [axis] _Disclosure	Axis	IAS 27.16 b _Disclosure IAS 27.17 b _Disclosure	825480, 825700, 836500, 990000
Joint ventures [member] _Disclosure	Member	IAS 27.16 b _Disclosure IAS 27.17 b _Disclosure	825480, 825700, 836500

(c)

joint operations;


Disclosure of joint operations [table] _Disclosure	Table	825700
Disclosure of joint operations [text block] _Disclosure	Text block	825700
Entity's total for joint operations [member] _Disclosure	Member	825700, 990000
Joint operations [axis] _Disclosure	Axis	825700, 990000
Joint operations [member] _Disclosure	Member	825700

(d)

associates; and


Associates [axis] _Disclosure	Axis	IAS 27.16 b _Disclosure IAS 27.17 b _Disclosure	825480, 825700, 836500, 990000
Associates [member] _Disclosure	Member	IAS 24.19 d _Disclosure IAS 27.16 b _Disclosure IAS 27.17 b _Disclosure	818000, 825480, 825700, 836500
Disclosure of associates [table] _Disclosure	Table	IAS 27.16 b _Disclosure IAS 27.17 b _Disclosure	825480, 825700
Disclosure of associates [text block] _Disclosure	Text block	IAS 27.16 b _Disclosure IAS 27.17 b _Disclosure	800500, 825480, 825700
Entity's total for associates [member] _Disclosure	Member	IAS 27.16 b _Disclosure IAS 27.17 b _Disclosure	825480, 825700, 836500, 990000

(e)

unconsolidated structured entities.


Disclosure of unconsolidated structured entities [table] _Disclosure	Table	825700
Disclosure of unconsolidated structured entities [text block] _Disclosure	Text block	825700
Entity's total for unconsolidated structured entities [member] _Disclosure	Member	825700, 990000
Unconsolidated structured entities [axis] _Disclosure	Axis	825700, 990000
Unconsolidated structured entities [member] _Disclosure	Member	825700

In determining whether to aggregate information, an entity shall consider quantitative and qualitative information about the different risk and return characteristics of each entity it is considering for aggregation and the significance of each such entity to the reporting entity. The entity shall present the disclosures in a manner that clearly explains to users of financial statements [Refer:Conceptual Framework paragraphs 1.2⁠–⁠1.10 and 2.36] the nature and extent of its interests in those other entities.

Examples of aggregation levels within the classes of entities set out in paragraph B4 that might be appropriate are:

(a)	nature of activities (eg a research and development entity, a revolving credit card securitisation entity).
(b)	industry classification.
(c)	geography (eg country or region).

Interests in other entities

[Refer:Basis for Conclusions paragraphs BC107⁠–⁠BC110]

An interest in another entity refers to contractual and non‑contractual involvement that exposes the reporting entity to variability of returns from the performance of the other entity. Consideration of the purpose and design of the other entity may help the reporting entity when assessing whether it has an interest in that entity and, therefore, whether it is required to provide the disclosures in this IFRS. That assessment shall include consideration of the risks that the other entity was designed to create and the risks the other entity was designed to pass on to the reporting entity and other parties.

A reporting entity is typically exposed to variability of returns from the performance of another entity by holding instruments (such as equity or debt instruments issued by the other entity) or having another involvement that absorbs variability. For example, assume a structured entity holds a loan portfolio. The structured entity obtains a credit default swap from another entity (the reporting entity) to protect itself from the default of interest and principal payments on the loans. The reporting entity has involvement that exposes it to variability of returns from the performance of the structured entity because the credit default swap absorbs variability of returns of the structured entity.

Some instruments are designed to transfer risk from a reporting entity to another entity. Such instruments create variability of returns for the other entity but do not typically expose the reporting entity to variability of returns from the performance of the other entity. For example, assume a structured entity is established to provide investment opportunities for investors who wish to have exposure to entity Z’s credit risk (entity Z is unrelated to any party involved in the arrangement). The structured entity obtains funding by issuing to those investors notes that are linked to entity Z’s credit risk (credit‑linked notes) and uses the proceeds to invest in a portfolio of risk‑free financial assets. The structured entity obtains exposure to entity Z’s credit risk by entering into a credit default swap (CDS) with a swap counterparty. The CDS passes entity Z’s credit risk to the structured entity in return for a fee paid by the swap counterparty. The investors in the structured entity receive a higher return that reflects both the structured entity’s return from its asset portfolio and the CDS fee. The swap counterparty does not have involvement with the structured entity that exposes it to variability of returns from the performance of the structured entity because the CDS transfers variability to the structured entity, rather than absorbing variability of returns of the structured entity.

Summarised financial information for subsidiaries, joint ventures and associates (paragraphs 12 and 21)

[Refer:Basis for Conclusions paragraphs BC47⁠–⁠BC52]

B10

For each subsidiary that has non‑controlling interests that are material to the reporting entity, an entity shall disclose [Refer:paragraph 12]:

(a)

dividends paid to non‑controlling interests.


Dividends paid to non-controlling interests _Disclosure	Monetary_{Duration, Credit}		825700

(b)

summarised financial information about the assets, liabilities, profit or loss and cash flows of the subsidiary that enables users [Refer:Conceptual Framework paragraphs 1.2⁠–⁠1.10 and 2.36] to understand the interest that non‑controlling interests have in the group’s activities and cash flows. That information might include but is not limited to, for example, current assets, non‑current assets, current liabilities, non‑current liabilities, revenue, profit or loss and total comprehensive income.


Comprehensive income _Example	Monetary_{Duration, Credit}	IAS 1.106 a _Disclosure IAS 1.81A c _Disclosure IFRS 1.24 b _Disclosure IFRS 1.32 a (ii) _Disclosure IFRS 12.B12 b (ix) _Disclosure	410000, 420000, 610000, 800200, 819100, 825700
Current assets _Example	Monetary_{Instant, Debit}	IAS 1.66 _Disclosure IFRS 12.B12 b (i) _Disclosure	210000, 800100, 825700
Current liabilities _Example	Monetary_{Instant, Credit}	IAS 1.69 _Disclosure IFRS 12.B12 b (iii) _Disclosure	210000, 800100, 825700
Non-current assets _Example	Monetary_{Instant, Debit}	IAS 1.66 _Disclosure IFRS 12.B12 b (ii) _Disclosure	210000, 825700
Non-current liabilities _Example	Monetary_{Instant, Credit}	IAS 1.69 _Disclosure IFRS 12.B12 b (iv) _Disclosure	210000, 825700
Profit (loss) _Example	Monetary_{Duration, Credit}	IAS 1.106 d (i) _Disclosure IAS 1.81A a _Disclosure IAS 7.18 b _Disclosure IFRS 1.24 b _Disclosure IFRS 1.32 a (ii) _Disclosure Effective 2023-01-01 IFRS 17.113 b _Example IFRS 8.23 _Disclosure IFRS 8.28 b _Disclosure	310000, 320000, 410000, 420000, 520000, 610000, 819100, 825700, 836500, 836600, 871100
Revenue _Example	Monetary_{Duration, Credit}	IAS 1.102 _Example IAS 1.103 _Example IAS 1.82 a _Disclosure IFRS 12.B12 b (v) _Disclosure IFRS 5.33 b (i) _Disclosure IFRS 8.23 a _Disclosure IFRS 8.28 a _Disclosure IFRS 8.32 _Disclosure IFRS 8.33 a _Disclosure IFRS 8.34 _Disclosure	310000, 320000, 800200, 825700, 825900, 871100

B11	The summarised financial information required by paragraph B10(b) shall be the amounts before inter‑company eliminations.

B12

For each joint venture and associate that is material to the reporting entity, an entity shall disclose [Refer:paragraph 21(b)(ii)]:

(a)

dividends received from the joint venture or associate.


Dividends received _Disclosure	Monetary_{Duration, Debit}		825700

(b)

summarised financial information for the joint venture or associate (see paragraphs B14 and B15) including, but not necessarily limited to:

(i)

current assets.


Current assets _Disclosure	Monetary_{Instant, Debit}	IAS 1.66 _Disclosure IFRS 12.B10 b _Example	210000, 800100, 825700

(ii)

non‑current assets.


Non-current assets _Disclosure	Monetary_{Instant, Debit}	IAS 1.66 _Disclosure IFRS 12.B10 b _Example	210000, 825700

(iii)

current liabilities.


Current liabilities _Disclosure	Monetary_{Instant, Credit}	IAS 1.69 _Disclosure IFRS 12.B10 b _Example	210000, 800100, 825700

(iv)

non‑current liabilities.


Non-current liabilities _Disclosure	Monetary_{Instant, Credit}	IAS 1.69 _Disclosure IFRS 12.B10 b _Example	210000, 825700

(v)

revenue.


Revenue _Disclosure	Monetary_{Duration, Credit}	IAS 1.102 _Example IAS 1.103 _Example IAS 1.82 a _Disclosure IFRS 12.B10 b _Example IFRS 5.33 b (i) _Disclosure IFRS 8.23 a _Disclosure IFRS 8.28 a _Disclosure IFRS 8.32 _Disclosure IFRS 8.33 a _Disclosure IFRS 8.34 _Disclosure	310000, 320000, 800200, 825700, 825900, 871100

(vi)

profit or loss from continuing operations.


Profit (loss) from continuing operations _Disclosure	Monetary_{Duration, Credit}	IAS 1.81A a _Disclosure IFRS 8.23 _Disclosure IFRS 8.28 b _Disclosure	310000, 320000, 825700, 871100

(vii)

post‑tax profit or loss from discontinued operations.


Profit (loss) from discontinued operations _Disclosure	Monetary_{Duration, Credit}	IAS 1.82 ea _Disclosure IAS 1.98 e _Disclosure IFRS 5.33 a _Disclosure	310000, 320000, 825700, 825900

(viii)

other comprehensive income.


Other comprehensive income _Disclosure	Monetary_{Duration, Credit}	IAS 1.106 d (ii) _Disclosure IAS 1.81A b _Disclosure IAS 1.91 a _Disclosure	410000, 420000, 610000, 825700

(ix)

total comprehensive income.


Comprehensive income _Disclosure	Monetary_{Duration, Credit}	IAS 1.106 a _Disclosure IAS 1.81A c _Disclosure IFRS 1.24 b _Disclosure IFRS 1.32 a (ii) _Disclosure IFRS 12.B10 b _Example	410000, 420000, 610000, 800200, 819100, 825700

B13

In addition to the summarised financial information required by paragraph B12, an entity shall disclose for each joint venture that is material to the reporting entity the amount of:

(a)

cash and cash equivalents included in paragraph B12(b)(i).


Cash and cash equivalents _Disclosure	Monetary_{Instant, Debit}	IAS 1.54 i _Disclosure IAS 7.45 _Disclosure	210000, 220000, 510000, 520000, 800100, 825700, 851100

(b)

current financial liabilities (excluding trade and other payables and provisions) included in paragraph B12(b)(iii).


Other current financial liabilities _Disclosure	Monetary_{Instant, Credit}	IAS 1.54 m _Disclosure	210000, 825700

(c)

non‑current financial liabilities (excluding trade and other payables and provisions) included in paragraph B12(b)(iv).


Other non-current financial liabilities _Disclosure	Monetary_{Instant, Credit}	IAS 1.54 m _Disclosure	210000, 825700

(d)

depreciation and amortisation.


Depreciation and amortisation expense _Disclosure	Monetary_{Duration, Debit}	IAS 1.102 _Example IAS 1.104 _Disclosure IAS 1.99 _Disclosure IFRS 8.23 e _Disclosure IFRS 8.28 e _Disclosure	320000, 800200, 825700, 871100

(e)

interest income.


Interest income _Disclosure	Monetary_{Duration, Credit}	IAS 1.112 c _{Common practice} IFRS 8.23 c _Disclosure IFRS 8.28 e _Disclosure	800200, 825700, 871100

(f)

interest expense.


Interest expense _Disclosure	Monetary_{Duration, Debit}	IFRS 8.23 d _Disclosure IFRS 8.28 e _Disclosure	800200, 825700, 836200, 871100

(g)

income tax expense or income.


Tax expense (income) _Disclosure	Monetary_{Duration, Debit}	IAS 1.82 d _Disclosure IAS 12.79 _Disclosure IAS 12.81 c (i) _Disclosure IAS 12.81 c (ii) _Disclosure IAS 26.35 b (viii) _Disclosure IFRS 8.23 h _Disclosure	310000, 320000, 710000, 825700, 835110, 871100

B14

The summarised financial information presented in accordance with paragraphs B12 and B13 shall be the amounts included in the IFRS financial statements of the joint venture or associate (and not the entity’s share of those amounts). If the entity accounts for its interest in the joint venture or associate using the equity method:

(a)

the amounts included in the IFRS financial statements of the joint venture or associate shall be adjusted to reflect adjustments made by the entity when using the equity method, such as fair value [Refer:IFRS 13] adjustments made at the time of acquisition and adjustments for differences in accounting policies.

(b)

the entity shall provide a reconciliation of the summarised financial information presented to the carrying amount of its interest in the joint venture or associate.


Disclosure of reconciliation of summarised financial information of associate accounted for using equity method to carrying amount of interest in associate [text block] _Disclosure	Text block		825700
Disclosure of reconciliation of summarised financial information of joint venture accounted for using equity method to carrying amount of interest in joint venture [text block] _Disclosure	Text block		825700

B15

An entity may present the summarised financial information required by paragraphs B12 and B13 on the basis of the joint venture's or associate's financial statements if:

(a)	the entity measures its interest in the joint venture or associate at fair value [Refer:IFRS 13] in accordance with IAS 28 (as amended in 2011); and
(b)	the joint venture or associate does not prepare IFRS financial statements and preparation on that basis would be impracticable or cause undue cost.

In that case, the entity shall disclose the basis on which the summarised financial information has been prepared.


Description of basis of preparation of summarised financial information of associate _Disclosure	Text		825700
Description of basis of preparation of summarised financial information of joint venture _Disclosure	Text		825700

B16

An entity shall disclose, in aggregate, the carrying amount of its interests in all individually immaterial joint ventures or associates that are accounted for using the equity method. An entity shall also disclose separately the aggregate amount of its share of those joint ventures’ or associates’:

(a)

profit or loss from continuing operations.


Share of profit (loss) from continuing operations of associates and joint ventures accounted for using equity method _Disclosure	Monetary_{Duration, Credit}		825700

(b)

post‑tax profit or loss from discontinued operations.


Share of post-tax profit (loss) from discontinued operations of associates and joint ventures accounted for using equity method _Disclosure	Monetary_{Duration, Credit}		825700

(c)

other comprehensive income.


Share of other comprehensive income of associates and joint ventures accounted for using equity method, net of tax _Disclosure	Monetary_{Duration, Credit}	IAS 1.91 a _Disclosure	800200, 825700, 836500, 861000

(d)

total comprehensive income.


Share of total comprehensive income of associates and joint ventures accounted for using equity method _Disclosure	Monetary_{Duration, Credit}		825700

An entity provides the disclosures separately for joint ventures and associates.


Investments accounted for using equity method _Disclosure	Monetary_{Instant, Debit}	IAS 1.54 e _Disclosure IFRS 8.24 a _Disclosure	210000, 220000, 800100, 825700, 871100

B17

When an entity’s interest in a subsidiary, a joint venture or an associate (or a portion of its interest in a joint venture or an associate) is classified (or included in a disposal group that is classified) as held for sale in accordance with IFRS 5 [Refer:IFRS 5 paragraphs 6⁠–⁠12A], the entity is not required to disclose summarised financial information for that subsidiary, joint venture or associate in accordance with paragraphs B10⁠–⁠B16.

Commitments for joint ventures (paragraph 23(a))

[Refer:Basis for Conclusions paragraphs BC53⁠–⁠BC56]

B18

An entity shall disclose total commitments it has made but not recognised at the reporting date (including its share of commitments made jointly with other investors with joint control of a joint venture) relating to its interests in joint ventures. Commitments are those that may give rise to a future outflow of cash or other resources.

B19

Unrecognised commitments that may give rise to a future outflow of cash or other resources include:

(a)

unrecognised commitments to contribute funding or resources as a result of, for example:

(i)	the constitution or acquisition agreements of a joint venture (that, for example, require an entity to contribute funds over a specific period).
(ii)	capital‑intensive projects undertaken by a joint venture.
(iii)	unconditional purchase obligations, comprising procurement of equipment, inventory or services that an entity is committed to purchasing from, or on behalf of, a joint venture.
(iv)	unrecognised commitments to provide loans or other financial support to a joint venture.
(v)	unrecognised commitments to contribute resources to a joint venture, such as assets or services.
(vi)	other non‑cancellable unrecognised commitments relating to a joint venture.

(b)

unrecognised commitments to acquire another party’s ownership interest (or a portion of that ownership interest) in a joint venture if a particular event occurs or does not occur in the future.

B20	The requirements and examples in paragraphs B18 and B19 illustrate some of the types of disclosure required by paragraph 18 of IAS 24 Related Party Disclosures.

Interests in unconsolidated structured entities (paragraphs 24⁠–⁠31)

Structured entities

B21

A structured entity is an entity that has been designed so that voting or similar rights are not the dominant factor in deciding who controls the entity, such as when any voting rights relate to administrative tasks only and the relevant activities are directed by means of contractual arrangements.

[Refer:Basis for Conclusions paragraphs BC82⁠–⁠BC85]

B22

A structured entity often has some or all of the following features or attributes:

(a)	restricted activities.
(b)	a narrow and well‑defined objective, such as to effect a tax‑efficient lease, carry out research and development activities, provide a source of capital or funding to an entity or provide investment opportunities for investors by passing on risks and rewards associated with the assets of the structured entity to investors.
(c)	insufficient equity to permit the structured entity to finance its activities without subordinated financial support.
(d)	financing in the form of multiple contractually linked instruments to investors that create concentrations of credit or other risks (tranches).

B23

Examples of entities that are regarded as structured entities include, but are not limited to:

(a)

securitisation vehicles.


Securitisation vehicles [member] _Example	Member		825700

(b)

asset‑backed financings.


Asset-backed financings [member] _Example	Member		825700

(c)

some investment funds.


Investment funds [member] _Example	Member		825700

B24	An entity that is controlled by voting rights is not a structured entity simply because, for example, it receives funding from third parties following a restructuring.

Nature of risks from interests in unconsolidated structured entities (paragraphs 29⁠–⁠31)

B25

In addition to the information required by paragraphs 29⁠–⁠31, an entity shall disclose additional information that is necessary to meet the disclosure objective in paragraph 24(b).


Additional information about nature of and changes in risks associated with interests in structured entities [text block] _Disclosure	Text block		825700

B26

Examples of additional information that, depending on the circumstances, might be relevant to an assessment of the risks to which an entity is exposed when it has an interest in an unconsolidated structured entity are [Refer:Basis for Conclusions paragraphs BC111⁠–⁠BC114]:

(a)

the terms of an arrangement that could require the entity to provide financial support to an unconsolidated structured entity (eg liquidity arrangements or credit rating triggers associated with obligations to purchase assets of the structured entity or provide financial support), including:

(i)	a description of events or circumstances that could expose the reporting entity to a loss.
(ii)	whether there are any terms that would limit the obligation.
(iii)	whether there are any other parties that provide financial support and, if so, how the reporting entity’s obligation ranks with those of other parties.


Description of terms of contractual arrangements that could require parent or subsidiaries to provide financial support to structured entity _Example	Text	IFRS 12.14 _Disclosure	825700

(b)

losses incurred by the entity during the reporting period relating to its interests in unconsolidated structured entities.


Losses incurred in relation to interests in structured entities _Example	Monetary_{Duration, Debit}		825700

(c)

the types of income the entity received during the reporting period from its interests in unconsolidated structured entities.


Description of types of income from structured entities _Example	Text	IFRS 12.27 b _Disclosure	825700

(d)

whether the entity is required to absorb losses of an unconsolidated structured entity before other parties, the maximum limit of such losses for the entity, and (if relevant) the ranking and amounts of potential losses borne by parties whose interests rank lower than the entity’s interest in the unconsolidated structured entity.


Description of whether entity is required to absorb losses of structured entities before other parties _Example	Text	825700
Disclosure of ranking and amounts of potential losses in structured entities borne by parties whose interests rank lower than entity's interests [text block] _Example	Text block	825700
Maximum limit of losses of structured entities which entity is required to absorb before other parties _Example	Monetary_{Instant, Credit}	825700

(e)

information about any liquidity arrangements, guarantees or other commitments with third parties that may affect the fair value [Refer:IFRS 13] or risk of the entity’s interests in unconsolidated structured entities.


Disclosure of information about liquidity arrangements, guarantees or other commitments with third parties that may affect fair value or risk of interests in structured entities [text block] _Example	Text block		825700

(f)

any difficulties an unconsolidated structured entity has experienced in financing its activities during the reporting period.


Description of difficulties structured entity experienced in financing its activities _Example	Text		825700

(g)

in relation to the funding of an unconsolidated structured entity, the forms of funding (eg commercial paper or medium‑term notes) and their weighted‑average life. That information might include maturity analyses of the assets and funding of an unconsolidated structured entity if the structured entity has longer‑term assets funded by shorter‑term funding.


Disclosure of forms of funding of structured entity and their weighted-average life [text block] _Example	Text block		825700

Appendix CEffective date and transition

This appendix is an integral part of the IFRS and has the same authority as the other parts of the IFRS.

Effective date and transition

C1	An entity shall apply this IFRS for annual periods beginning on or after 1 January 2013. Earlier application is permitted. [Refer:Basis for Conclusions paragraphs BC115⁠–⁠BC118]

C1A

Consolidated Financial Statements, Joint Arrangements and Disclosure of Interests in Other Entities: Transition Guidance (Amendments to IFRS 10, IFRS 11 and IFRS 12), issued in June 2012, added paragraphs C2A⁠–⁠C2B. An entity shall apply those amendments for annual periods beginning on or after 1 January 2013. If an entity applies IFRS 12 for an earlier period, it shall apply those amendments for that earlier period.

[Refer:Basis for Conclusions paragraph BC119A]

C1B

Investment Entities (Amendments to IFRS 10, IFRS 12 and IAS 27), issued in October 2012, amended paragraph 2 and Appendix A, and added paragraphs 9A⁠–⁠9B, 19A⁠–⁠19G, 21A and 25A. An entity shall apply those amendments for annual periods beginning on or after 1 January 2014. Early adoption is permitted. If an entity applies those amendments earlier, it shall disclose that fact and apply all amendments included in Investment Entities at the same time.

C1C

Investment Entities: Applying the Consolidation Exception (Amendments to IFRS 10, IFRS 12 and IAS 28), issued in December 2014, amended paragraph 6. An entity shall apply that amendment for annual periods beginning on or after 1 January 2016. Earlier application is permitted. If an entity applies that amendment for an earlier period it shall disclose that fact.

[Refer:Basis for Conclusions paragraph BC119C]

C1D

Annual Improvements to IFRS Standards 2014⁠–⁠2016 Cycle, issued in December 2016, added paragraph 5A and amended paragraph B17. An entity shall apply those amendments retrospectively in accordance with IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors [Refer:IAS 8 paragraph 5 (definition of retrospective application) and paragraphs 19⁠–⁠27] for annual periods beginning on or after 1 January 2017.

[Refer:Basis for Conclusions paragraphs BC8F⁠–⁠BC8I]

An entity is encouraged to provide information required by this IFRS earlier than annual periods beginning on or after 1 January 2013. Providing some of the disclosures required by this IFRS does not compel the entity to comply with all the requirements of this IFRS or to apply IFRS 10, IFRS 11, IAS 27 (as amended in 2011) and IAS 28 (as amended in 2011) early.

[Refer:Basis for Conclusions paragraph BC119]

C2A	The disclosure requirements of this IFRS need not be applied for any period presented that begins before the annual period immediately preceding the first annual period for which IFRS 12 is applied. [Refer:Basis for Conclusions paragraph BC119A]

C2B	The disclosure requirements of paragraphs 24⁠–⁠31 and the corresponding guidance in paragraphs B21⁠–⁠B26 of this IFRS need not be applied for any period presented that begins before the first annual period for which IFRS 12 is applied. [Refer:Basis for Conclusions paragraph BC119B]

References to IFRS 9

C3	If an entity applies this IFRS but does not yet apply IFRS 9, any reference to IFRS 9 shall be read as a reference to IAS 39 Financial Instruments: Recognition and Measurement.

Appendix DAmendments to other IFRSs

This appendix sets out amendments to other IFRSs that are a consequence of the Board issuing IFRS 12. An entity shall apply the amendments for annual periods beginning on or after 1 January 2013. If an entity applies IFRS 12 for an earlier period, it shall apply the amendments for that earlier period. Amended paragraphs are shown with new text underlined and deleted text struck through.


* * * * *

The amendments contained in this appendix when this IFRS was issued in 2011 have been incorporated into the relevant IFRSs published in this volume.

Board Approvals

Approval by the Board of IFRS 12 issued in May 2011

International Financial Reporting Standard 12 Disclosure of Interests in Other Entities was approved for issue by the fifteen members of the International Accounting Standards Board.

Sir David Tweedie	Chairman
Stephen Cooper
Philippe Danjou
Jan Engström
Patrick Finnegan
Amaro Luiz de Oliveira Gomes
Prabhakar Kalavacherla
Elke König
Patricia McConnell
Warren J McGregor
Paul Pacter
Darrel Scott
John T Smith
Tatsumi Yamada
Wei-Guo Zhang

Approval by the Board of Consolidated Financial Statements, Joint Arrangements and Disclosure of Interests in Other Entities: Transition Guidance (Amendments to IFRS 10, IFRS 11 and IFRS 12) issued in June 2012

Consolidated Financial Statements, Joint Arrangements and Disclosure of Interests in Other Entities: Transition Guidance (Amendments to IFRS 10, IFRS 11 and IFRS 12) was approved for issue by the fourteen members of the International Accounting Standards Board.

Hans Hoogervorst	Chairman
Ian Mackintosh	Vice-Chairman
Stephen Cooper
Philippe Danjou
Jan Engström
Patrick Finnegan
Amaro Luiz de Oliveira Gomes
Prabhakar Kalavacherla
Patricia McConnell
Takatsugu Ochi
Paul Pacter
Darrel Scott
John T Smith
Wei-Guo Zhang

Approval by the Board of Investment Entities (Amendments to IFRS 10, IFRS 12 and IAS 27) issued in October 2012

Investment Entities (Amendments to IFRS 10, IFRS 12 and IAS 27) was approved for issue by the fifteen members of the International Accounting Standards Board.

Hans Hoogervorst	Chairman
Ian Mackintosh	Vice-Chairman
Stephen Cooper
Philippe Danjou
Martin Edelmann
Jan Engström
Patrick Finnegan
Amaro Luiz de Oliveira Gomes
Prabhakar Kalavacherla
Patricia McConnell
Takatsugu Ochi
Paul Pacter
Darrel Scott
Chungwoo Suh
Zhang Wei-Guo

Approval by the Board of Investment Entities: Applying the Consolidation Exception (Amendments to IFRS 10, IFRS 12 and IAS 28) issued in December 2014

Investment Entities: Applying the Consolidation Exception was approved for issue by the fourteen members of the International Accounting Standards Board.

Hans Hoogervorst	Chairman
Ian Mackintosh	Vice-Chairman
Stephen Cooper
Philippe Danjou
Amaro Luiz De Oliveira Gomes
Martin Edelmann
Patrick Finnegan
Gary Kabureck
Suzanne Lloyd
Takatsugu Ochi
Darrel Scott
Chungwoo Suh
Mary Tokar
Wei-Guo Zhang

Contents

International Financial Reporting Standard 12Disclosure of Interests in Other Entities

Objective

Meeting the objective

Scope

Significant judgements and assumptions

Investment entity status

Interests in subsidiaries

The interest that non-controlling interests have in the group’s activities and cash flows

The nature and extent of significant restrictions

Nature of the risks associated with an entity’s interests in consolidated structured entities

Consequences of changes in a parent’s ownership interest in a subsidiary that do not result in a loss of control

Consequences of losing control of a subsidiary during the reporting period

Interests in unconsolidated subsidiaries (investment entities)

Interests in joint arrangements and associates

Nature, extent and financial effects of an entity’s interests in joint arrangements and associates

Risks associated with an entity’s interests in joint ventures and associates

Interests in unconsolidated structured entities

Nature of interests

Nature of risks

Appendices

Appendix ADefined terms

Appendix BApplication guidance

Aggregation (paragraph 4)

Interests in other entities

Summarised financial information for subsidiaries, joint ventures and associates (paragraphs 12 and 21)

Commitments for joint ventures (paragraph 23(a))

Interests in unconsolidated structured entities (paragraphs 24⁠–⁠31)

Structured entities

Nature of risks from interests in unconsolidated structured entities (paragraphs 29⁠–⁠31)

Appendix CEffective date and transition

Effective date and transition

References to IFRS 9

Appendix DAmendments to other IFRSs

Board Approvals

Approval by the Board of IFRS 12 issued in May 2011

Approval by the Board of Consolidated Financial Statements, Joint Arrangements and Disclosure of Interests in Other Entities: Transition Guidance (Amendments to IFRS 10, IFRS 11 and IFRS 12) issued in June 2012

Approval by the Board of Investment Entities (Amendments to IFRS 10, IFRS 12 and IAS 27) issued in October 2012

Approval by the Board of Investment Entities: Applying the Consolidation Exception (Amendments to IFRS 10, IFRS 12 and IAS 28) issued in December 2014