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PART G: PREPARING SIMPLE CONSOLIDATED FINANCIAL STATEMENTS 

 

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The relevant IFRSs for consolidation are: 

 IAS 

27 

Separate financial statements 

 IAS 

28 

Investments in associates and joint ventures 

 IFRS 

3 

Business combinations  

 

IFRS 10 Consolidated financial statements 

In this and the next two chapters we will consider the principles of IAS 27/IFRS 10 and IFRS 3. IAS 27 

was previously issued as IAS 27 Consolidated and separate financial statements. Effective from  

1 January 2013, it was superseded by IAS 27 Separate financial statements. The consolidation 

requirements in the old IAS 27 are now contained in IFRS 10 Consolidated financial statements. IAS 28 

is considered in Section 3 below. First of all, however, we will look at all the important definitions, which