Download Quick Reference on Ind AS 27 Separate Financial Statements
The objective of this Standard is to prescribe the accounting and disclosure requirements for investments in subsidiaries, joint ventures and associates when an entity prepares separate financial statements. The Standard shall be applied in accounting for investments in subsidiaries, joint ventures and associates when an 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 which the investments are accounted for at cost or in accordance with Ind AS 109, Financial Instruments.
Separate financial statements are those presented in addition to consolidated financial statements or in addition to financial statements in which investments in associates or joint ventures are accounted for using the equity method, other than in the following circumstances:
- an entity may present separate financial statements as its only financial statements, if it is exempted from consolidation or from applying equity method of accounting;
- an investment entity shall present separate financial statements as its only financial statements, if it is required, throughout the current period and all comparative periods, to apply the exception to consolidation for all of its subsidiaries.