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IAS 27 Consolidated and Separate Financial Statements - A Closer Look

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  • Muthupandian, K S

Abstract

The International Accounting Standards Committee issued the the International Accounting Standard 27, Consolidated and Separate Financial Statements. IAS 27 provides guidance on the preparation and presentation of consolidated financial statements for a group of entities under the control of a parent. The standard also provides guidance on the presentation of investments in subsidiaries, jointly controlled entities and associates in separate financial statements. The objective of IAS 27 is to enhance the relevance, reliability, and comparability of the information contained in consolidated financial statements that a parent prepares for the group of entities it controls; and separate (non-consolidated) financial statements that a parent, investor, or venturer elects to provide, or is required by local regulation to provide. This article presents a closer look of the standard (objective, scope, definitions and disclosures).

Suggested Citation

  • Muthupandian, K S, 2010. "IAS 27 Consolidated and Separate Financial Statements - A Closer Look," MPRA Paper 35551, University Library of Munich, Germany, revised 20 Jun 2010.
    • Handle: RePEc:pra:mprapa:35551
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    More about this item

    Keywords

    International Accounting Standard; Consolidated Financial Statements; Minority Interest; Subsidiary; IAS 27; IASC; IASB;
    All these keywords.

    JEL classification:

    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting

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