(IFRS) for Small and Medium-sized Entities (SMEs)

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IFRS FOR SMES – JULY 2009do so. If it is impracticable, the investor shall use the most recent availablefinancial statements of the associate, with adjustments made for theeffects of any significant transactions or events occurring between theaccounting period ends.(g)(h)(i)Associate’s accounting policies. If the associate uses accounting policies thatdiffer from those of the investor, the investor shall adjust the associate’sfinancial statements to reflect the investor’s accounting policies for thepurpose of applying the equity method unless it is impracticable to do so.Losses in excess of investment. If an investor’s share of losses of an associateequals or exceeds the carrying amount of its investment in the associate,the investor shall discontinue recognising its share of further losses. Afterthe investor’s interest is reduced to zero, the investor shall recogniseadditional losses by a provision (see Section 21 Provisions and Contingencies)only to the extent that the investor has incurred legal or constructiveobligations or has made payments on behalf of the associate. If theassociate subsequently reports profits, the investor shall resumerecognising its share of those profits only after its share of the profitsequals the share of losses not recognised.Discontinuing the equity method. An investor shall cease using the equitymethod from the date that significant influence ceases.(i)(ii)(iii)If the associate becomes a subsidiary or joint venture, the investorshall remeasure its previously held equity interest to fair value andrecognise the resulting gain or loss, if any, in profit or loss.If an investor loses significant influence over an associate as a resultof a full or partial disposal, it shall derecognise that associate andrecognise in profit or loss the difference between, on the one hand,the sum of the proceeds received plus the fair value of any retainedinterest and, on the other hand, the carrying amount of theinvestment in the associate at the date significant influence is lost.Thereafter, the investor shall account for any retained interest usingSection 11 Basic Financial Instruments and Section 12 Other FinancialInstruments Issues, as appropriate.If an investor loses significant influence for reasons other than apartial disposal of its investment, the investor shall regard thecarrying amount of the investment at that date as a new cost basisand shall account for the investment using Sections 11 and 12, asappropriate.Fair value model14.9 When an investment in an associate is recognised initially, an investor shallmeasure it at the transaction price. Transaction price excludes transaction costs.14.10 At each reporting date, an investor shall measure its investments in associates atfair value, with changes in fair value recognised in profit or loss, using the fairvaluation guidance in paragraphs 11.27–11.32. An investor using the fair valuemodel shall use the cost model for any investment in an associate for which it isimpracticable to measure fair value reliably without undue cost or effort.© IASCF 83
IFRS FOR SMES – JULY 2009Financial statement presentation14.11 An investor shall classify investments in associates as non-current assets.Disclosures14.12 An investor in an associate shall disclose the following:(a)(b)(c)its accounting policy for investments in associates.the carrying amount of investments in associates (see paragraph 4.2(j)).the fair value of investments in associates accounted for using the equitymethod for which there are published price quotations.14.13 For investments in associates accounted for by the cost model, an investor shalldisclose the amount of dividends and other distributions recognised as income.14.14 For investments in associates accounted for by the equity method, an investorshall disclose separately its share of the profit or loss of such associates and itsshare of any discontinued operations of such associates.14.15 For investments in associates accounted for by the fair value model, an investorshall make the disclosures required by paragraphs 11.41–11.44.84 © IASCF
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2009International Accounting Standa
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The International Financial Reporti
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IFRS FOR SMES - JULY 200928 EMPLOYE
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IFRS FOR SMES - JULY 2009Preface to
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IFRS FOR SMES - JULY 2009P12Tax law
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IFRS FOR SMES - JULY 2009Internatio
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IFRS FOR SMES - JULY 2009Section 2C
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IFRS FOR SMES - JULY 2009conditions
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IFRS FOR SMES - JULY 2009Performanc
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IFRS FOR SMES - JULY 20092.34 Two c
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IFRS FOR SMES - JULY 2009Measuremen
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IFRS FOR SMES - JULY 2009Section 3F
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IFRS FOR SMES - JULY 2009(b)(c)the
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IFRS FOR SMES - JULY 2009Identifica
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IFRS FOR SMES - JULY 2009Current/no
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IFRS FOR SMES - JULY 2009(iii)(iv)(
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IFRS FOR SMES - JULY 2009Appendix t
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IFRS FOR SMES - JULY 2009Example 9
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IFRS FOR SMES - JULY 2009Example 18
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IFRS FOR SMES - JULY 2009no obligat
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IFRS FOR SMES - JULY 200924.7 For t
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IFRS FOR SMES - JULY 2009Section 26
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IFRS FOR SMES - JULY 2009estimate t
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IFRS FOR SMES - JULY 2009Internal s
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IFRS FOR SMES - JULY 2009Disclosure
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IFRS FOR SMES - JULY 2009date of tr
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