Intro to consolidation and group accounts: IFRS 3, IFRS 10 and other (applies in 2026)

Summary

An introductory overview of the six key IFRS accounting standards governing group accounts, consolidation, and investments in other entities.

Highlights

Introduction to IFRS Standards for Groups00:00:00

Overview of the six main IFRS standards involved in group accounting, including IAS 27, IAS 28, IFRS 3, IFRS 10, IFRS 11, and IFRS 12.

Core Standards Explained00:00:48

Breakdown of the purpose of each standard: IAS 27 covers separate financial statements; IAS 28 governs associates and joint ventures; IFRS 3 focuses on business combinations; IFRS 10 defines control and consolidation; IFRS 11 outlines joint arrangements; and IFRS 12 covers required disclosures.

Defining Subsidiaries, Associates, and Joint Arrangements00:03:50

Definitions of group members based on influence. Subsidiaries are defined by control (usually >50% share), associates by significant influence (usually 20-50%), and joint arrangements by shared control among parties.

Accounting Methods and Distinctions00:05:46

Summary of accounting treatments: acquisition and full consolidation for subsidiaries, the equity method for associates and joint ventures, and proportional recognition for joint operations. Investments not meeting these criteria are treated as financial instruments under IFRS 9.