liabilities, or approval of non-controlling interests is required either to access the assets or to settle the liabilities of a subsidiary).
(c) the carrying amounts in the consolidated financial statements of the assets and liabilities to which those restrictions apply.
Nature of the risks associated with an entity's interests in consolidated structured entities
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).
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
(b) the reasons for providing the support.
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.
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.
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.
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 at the date when control is lost; and
Interests in unconsolidated subsidiaries (investment entities)
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.
For each unconsolidated subsidiary, an investment entity shall disclose:
the subsidiary's name; the principal place of business (and country of incorporation if different from the principal place of business) of the subsidiary; and the proportion of ownership interest held by the investment entity and, if different, the proportion of voting rights held.
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.
An investment entity shall disclose:
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 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.
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
(b) the reasons for providing the support.
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).
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.
Interests in joint arrangements and associates
20 An entity shall disclose information that enables users of its financial statements to evaluate:
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
the nature of, and changes in, the risks associated with its interests in joint ventures and associates (paragraph 23).
Nature, extent and financial effects of an entity's interests in joint arrangements and associates
21 An entity shall disclose:
(a) for each joint arrangement and associate that is material to the reporting entity:
the name of the joint arrangement or associate.
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).
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.
the proportion of ownership interest or participating share held by the entity and, if different, the proportion of voting rights held (if applicable).
(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 or at fair value.
(ii) summarised financial information about the joint venture or associate as specified in paragraphs B12 and B13. 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.
(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,
(ii) in aggregate for all individually immaterial associates.
An investment entity need not provide the disclosures required by paragraphs 21(b)-21(c).
22 An entity shall also disclose:
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.
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
(ii) the reason for using a different date or period.
(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.
Risks associated with an entity's interests in joint ventures and associates
23 An entity shall disclose:
commitments that it has relating to its joint ventures separately from the amount of other commitments as specified in paragraphs B18-B20.
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.
Interests in unconsolidated structured entities
24 An entity shall disclose information that enables users of its financial statements:
to understand the nature and extent of its interests in unconsolidated structured entities (paragraphs 26-28); and to evaluate the nature of, and changes in, the risks associated with its interests in unconsolidated structured entities (paragraphs 29-31).
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.
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.
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.
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:
how it has determined which structured entities it has sponsored;
income from those structured entities during the reporting period, including a
description of the types of income presented; and
the carrying amount (at the time of transfer) of all assets transferred to those structured entities during the reporting period.
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
An entity shall disclose in tabular format, unless another format is more appropriate, a summary of:
the carrying amounts of the assets and liabilities recognised in its financial statements relating to its interests in unconsolidated structured entities. the line items in the statement of financial position in which those assets and liabilities are recognised. 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. 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.
30 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:
(a) the type and amount of support provided, including situations in which the entity assisted the structured entity in obtaining financial support; and
(b) the reasons for providing the support.
31 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.
Appendix A
Defined terms
This appendix is an integral part of the IFRS.
income from a structured entity interest in another 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.
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.
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.
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:
Appendix B
Application 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.
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 .
An entity shall decide, in the light of its circumstances, how much detail it provides to satisfy the information needs of users, 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.
An entity shall present information separately for interests in 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 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: 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.
صفحه 1 2 3