An amendment to IAS 28 Investments in Associates and Joint Ventures will affect companies that finance such entities with preference shares or with loans for which repayment is not expected in the foreseeable future (referred to as long-term interests or ‘LTI’). Earnings per share – IAS 33 28 Balance sheet and related notes 29 Intangible assets – IAS 38 30 Property, plant and equipment – IAS 16 31 Investment property – IAS 40 32 Impairment of assets – IAS 36 33 Lease accounting – IAS 17, IFRS 16 34 Inventories – IAS 2 35 Provisions and contingencies – IAS 37 36 IAS 28 — Potential effect of IFRS 3 and IAS 27 on equity method accounting ; IAS 28 — Venture capital consolidations and partial use of fair value through profit or loss; IAS 28 — Impairment of investments in associates; IAS 34 — Interim fair value disclosures; IAS 39 — Hedging using more than one derivative as the hedging instrument IAS 39, the previous guidance for assessing impairment of intercompany loans, had an incurred loss model, where provisions were recognised when there was objective evidence of impairment. It may be the case that an ‘old’ CGU benefits from the business combination, even though newly acquired assets are not allocated to this ‘old’ CGU. Updated on Nov 27, 2019 - 12:25:51 PM. IAS 27 & IAS 28 — Impairment of investments in associates in separate financial statements; IFRS 3 & IFRS 2 — Accounting for reverse acquisitions that do not constitute a business ; IAS 41 & IFRS 13 —Valuation of biological assets using a residual method ; IAS 10 — Reissuing previously issued financial statements Amended by Improvements to IFRSs (impairment testing) Effective for annual periods beginning on or after 1 January 2009. Standard IAS 28 defines significant influenceas the power to participatein the financial and operating policy decisions of the investee, but is NOT a control or joint control of those policies. Contents.
the higher of fair value less costs of disposal and value in use). When the investor has previously held an investment in the associate or joint venture (generally accounted for under IAS 39 or, when adopted, IFRS 9), the deemed cost of the associate or joint venture is the fair value of the original investment at the date that significant influence or joint control is …
Explanation 3. The amendments are effective for annual periods beginning on or after 1 January 2023 with earlier application permitted. For impairment testing, goodwill is allocated (IAS 36.80-87) to the CGU that benefits from the synergies of the related business combination.
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