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Consolidation — Comprehensive project


The objectives of this project were to develop a single consolidation model applicable to all entities that would be based on the concept of control and to improve disclosures of consolidated and unconsolidated entities (replacing both IAS 27, Consolidated and Separate Financial Statements, and SIC-12, Consolidation—Special Purpose Entities).


Current status of the project

The IASB issued IFRS 10, Consolidated Financial Statements, on May 12, 2011.

As a result of feedback received during the project, the IASB agreed to undertake a supplementary project that seeks to exempt eligible investment entities (such as mutual funds, unit trusts, and similar entities) from the requirement to consolidate subsidiaries and instead requires the use of fair value to measure those investments.


Project milestones

April 2002 Added to the active agenda.
September 17, 2008 Public roundtable.
December 18, 2008 Exposure Draft ED 10, Consolidated Financial Statements, published. Comment deadline March 20, 2009.
First quarter 2009 Roundtables held.
January 2010 Added a project on a separate disclosure standard for interests in other entities.
September 29, 2010 Staff Draft IFRS X, Consolidated Financial Statements, published.
April 21, 2011 Near Final Draft of IFRS 10 published.
May 12, 2011 IFRS 10, Consolidated Financial Statements, published.
IFRS 12, Disclosure of Interests in Other Entities, published.
Effective for annual periods beginning on or after January 1, 2013.

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.