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minority interest when no legal ownership


If a company consolidates 2 structured entities, for which it has no legal ownership, but has control, should there be minority interest in the balance sheet?

asked Jun 27 in IFRS 10 - Consolidated Financial Statements by Katia

1 Answer

0 votes
Under IFRS 10 – Consolidated Financial Statements, when a reporting entity has power over a SE and is exposed, or has rights to variable returns from its involvement with a SE and has the ability to affect those returns through its power over the SE, the reporting entity is considered to have control over the SE which must be consolidated within the reporting entity’s financial statements. When the reporting entity does not control the SE, consolidation is not required under IFRS 10.
as far NCI is concerned, its required to be shown
answered Jun 29 by umarhussainia Level 5 Member (10,570 points)


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