78 paragraphs found in AASB 128
AASB 17, issued in July 2017, amended paragraph 18. An entity shall apply that amendment when it applies AASB 17. …
The objective of this Standard is to prescribe the accounting for investments in associates and to set out the requirements for the application of the equity method when accounting for investments in associates and joint …
AusCF entities are: (a) not-for-profit entities; and (b) for-profit entities that are not applying the Conceptual Framework for Financial Reporting (as identified in AASB 1048 Interpretation of Standards ). For AusCF entities, the term ‘reporting entity’ …
This Standard shall be applied by all entities that are investors with joint control of, or significant influence over, an investee. …
The following terms are used in this Standard with the meanings specified: …
An associate is an entity over which the investor has significant influence. …
Consolidated financial statements are the financial statements of a group in which assets, liabilities, equity, income, expenses and cash flows of the parent and its subsidiaries are presented as those of a single economic …
The equity method is a method of accounting whereby the investment is initially recognised at cost and adjusted thereafter for the post-acquisition change in the investor’s share of the investee’s net assets. The investor’s profit or loss includes its …
A joint arrangement is an arrangement of which two or more parties have joint control. …
Joint control is the contractually agreed sharing of control of an arrangement, which exists only when decisions about the relevant activities require the unanimous consent of the parties sharing …