International Accounting Standard 27: Consolidated and separate financial statements

This version was issued in January 2008 and includes subsequent amendments resulting from IFRSs issued up to 31 December 2008. Its effective date is 1 July 2009. IAS 27 Consolidated and separate financial statements was issued by the International Accounting Standards Committee in April 1989. It replaced IAS 3 Consolidated Financial Statements (issued in June 1976) except in so far as IAS 3 dealt with accounting for investments in associates. IAS 27 was reformatted in 1994, and limited amendments were made by IAS 39 in 1998 and 2000. | IAS 27 International Accounting Standard 27 Consolidated and Separate Financial Statements This version was issued in January 2008 and includes subsequent amendments resulting from IFRSs issued up to 31 December 2008. Its effective date is 1 July 2009. IAS 27 Consolidated Financial Statements and Accounting for Investments in Subsidiaries was issued by the International Accounting Standards Committee in April 1989. It replaced IAS 3 Consolidated Financial Statements (issued in June 1976) except in so far as IAS 3 dealt with accounting for investments in associates. IAS 27 was reformatted in 1994, and limited amendments were made by IAS 39 in 1998 and 2000. In April 2001 the International Accounting Standards Board (IASB) resolved that all Standards and Interpretations issued under previous Constitutions continued to be applicable unless and until they were amended or withdrawn. The Standing Interpretations Committee developed two Interpretations relating to IAS 27: • SIC-12 Consolidation—Special Purpose Entities (issued December 1998) • SIC-33 Consolidation and Equity Method—Potential Voting Rights and Allocation of Ownership Interests (issued December 2001). In December 2003 the IASB issued a revised IAS 27 with a new title—Consolidated and Separate Financial Statements. The revised standard also amended SIC-12 and replaced SIC-33. IAS 27 was subsequently amended by the following IFRSs: • IFRS 3 Business Combinations (issued March 2004) • IFRS 5 Non-current Assets Held for Sale and Discontinued Operations (issued March 2004) • IFRS 8 Operating Segments (issued November 2006)* • IAS 1 Presentation of Financial Statements (as revised in September 2007).* In January 2008 the IASB issued an amended IAS 27. Since then, IAS 27 and its accompanying documents have been amended by the following IFRSs: • Cost of an Investment in a Subsidiary, Jointly Controlled Entity or Associate (Amendments to IFRS 1 and IAS 27) (issued May 2008)* • Improvements to IFRSs