Section 1602 - Non-controlling interests

Effective date:

January 1, 2011 except for subsequent amendments

Published by the AcSB:

December 2009

Overview

This Section establishes standards for accounting for a non-controlling interest in a subsidiary in consolidated financial statements subsequent to a business combination.

History of Section 1602

Date

Development

Comments

December 2009

Part II of the CPA Canada Handbook  issued

Effective for fiscal years beginning on or after January 1, 2011. Earlier application is permitted.

October 2013

Annual improvements

This Section has been amended as follows:

  • Paragraph .14 has been amended to clarify that non-controlling interests are not a deduction in arriving at net income.
  • Paragraph .14A has been added to clarify the allocation of exchange gains and losses arising from the translation of the financial statements of a self-sustaining foreign operation that are attributable to the non-controlling interests.
Effective for fiscal years beginning on or after January 1, 2014.

Note: The above summary does not include details of consequential amendments made as the result of other projects.

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.