IFRS 10 Explained | Consolidated Financial Statements | #ifrs #ifrs10 #ifrsstandards #shorts

Description

IFRS 10 Consolidated Financial Statements establishes the principles for preparing consolidated financial statements when an entity controls one or more other entities. It requires a parent that controls subsidiaries to present consolidated financial statements, and it defines control as the basis for consolidation.

In simple words, IFRS 10 explains when an investor must consolidate an investee. Under the standard, an investor controls an investee only when it has power over the investee, exposure or rights to variable returns, and the ability to use its power to affect those returns.

This video is useful for understanding:

* Consolidated financial statements
* Parent and subsidiary relationship
* Control as the basis of consolidation
* Variable returns
* Power over an investee
* How IFRS 10 applies in financial reporting

IFRS 10 was issued in May 2011, and the IFRS Foundation says it was effective from 1 January 2013, with early application permitted. The IASB also provides supporting materials for consistent application of IFRS 10.

This video is ideal for CA, CMA, CS, B.Com, M.Com, MBA, and accounting students who want a clear introduction to IFRS 10 and consolidation accounting.

#IFRS10 #ConsolidatedFinancialStatements
#AccountingStandards #FinancialReporting
#ifrsstandards #ifrs

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