Required disclosures in consolidated financial statements
9.23 The following disclosures shall be made in consolidated financial statements:
- the fact that the statements are consolidated financial statements;
- the basis for concluding that control exists when the parent does not own, directly or indirectly through subsidiaries, more than half of the voting power;
- any difference in the reporting date of the financial statements of the parent and its subsidiaries used in the preparation of the consolidated financial statements; and
- the nature and extent of any significant restrictions (for example resulting from borrowing arrangements or regulatory requirements) on the ability of subsidiaries to transfer funds to the parent in the form of cash dividends or to repay loans.
Disclosures carrying amount in unconsolidated subsidiaries
9.23A In addition to the disclosure requirements in Basic Financial Instruments, a parent entity shall disclose the carrying amount of investments in subsidiaries that are not consolidated (see Subsidiary acquired for sale or disposal, Subsidiary acquired for sale or disposal – not sold or disposed within one year and Parent only holding subsidiaries acquired for sale or disposal and/or not sold or disposed within one year) at the reporting date, in total, either in the statement of financial position or in the notes.
Continue reading: Separate Financial Statements