PAS 27

• Consolidated financial statement


  are the financials statements of a group in which the assets, liabilities, equity, income, expenses and cash flows of the parent and its subsidiaries are presented as those of a single economic entity
• Separate financial statements are those presented in addition to:

  1. Consolidated financial statements; or
  2. Financial statements in which investments in associated or joint ventures are accounted for using the equity method in accordance with PAS 28.
• Preparation of separate financial statements

  Separate financial statements shall be prepared in accordance with all applicable PFRSs, except as follows:

  • Investments in subsidiaries, associates and joint ventures are accounted for in the separate financial statements either:

  1. At cost
  2. In accordance with PFRS 9 Financial Instruments, or
  3. Using the equity method under PAS 28 Investments in Associated and Joint Ventures
• Dividends from a subsidiary, associate or joint venture are recognized in profit or loss when the entity’s right to receive the dividends is established, except when the investment is accounted for using the equity method, in which case the dividends are recognized as deduction to the carrying amount of the investment.
• Investments classified for as held for sale are accounted for in accordance with PFRS 5
• In separate financial statements, investments in subsidiaries, associates or joint ventures are accounted for at cost, at fair value in accordance with PFRS 9 or using the equity method.