Indian Accounting Standard (Ind AS) 27 Summary
Indian Accounting Standard (Ind AS) 27, Separate Financial Statements provides guidance on accounting and disclosure requirements for investments in subsidiaries, joint ventures and associates when the entity elects, or is required by law, to present separate financial statements.
Separate financial statements are those presented by:
– A parent (i.e. an investor with control of a subsidiary), or
– An investor with joint control of, or significant influence over, an investee in addition to financial statements in which investments in associates or joint ventures are accounted for using the equity method.
A parent, an investor in an associate, or a venturer in a joint venture that is not required to prepare consolidated or individual financial statements is permitted, but not required, to present Separate Financial Statements (SFS). Alternatively, SFS may be prepared in addition to consolidated or individual financial statements.