Deciding Control For Consolidation

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Shafiq
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Joined: 30 Mar 2021, 02:17

Deciding Control For Consolidation

Post by Shafiq »

the Company was incorporated in XYZ Country on May 10, 2016 as a private company limited by shares under the repealed Companies Ordinance, 1984 (now Companies Act, 2017). The principal activity of the company is to invest in ideas and companies that are engaged in technology related businesses. The company is structured as a single holding Company constituting a symbiotic ecosystem of separate yet closely related portfolio companies.

Please suggest whether this company needs consolidation of subsidiaries or it can be exempt under ifrs 10 exemption from consolidation????
JRSB
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Re: Deciding Control For Consolidation

Post by JRSB »

Not sure if 'symbiotic ecosystems' are specifically covered.. :lol: :lol: :lol:

Are all companies linked by 100% holdings?
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Marek Muc
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Re: Deciding Control For Consolidation

Post by Marek Muc »

:lol:

All available exemptions are summarised below:

https://ifrscommunity.com/knowledge-bas ... of-ifrs-10
Shafiq
Posts: 2
Joined: 30 Mar 2021, 02:17

Re: Deciding Control For Consolidation

Post by Shafiq »

No, Some of them have 100%, rest varies.

Also, there were disposal of subsidiaries but the subsidiaries were unable to pay so parent company impaired the whole amount from investment in subsidiaries and showed that in subordinated loan.
What should be the correct treatment while doing consolidation.
JRSB
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Re: Deciding Control For Consolidation

Post by JRSB »

Not enough info to comment, at all, unfortunately
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