AASB 12 Disclosure of Interests in Other Entities requires an entity to disclose for each of its subsidiaries that have non-controlling interests that are material to the reporting entity:
A) summarised financial information about the subsidiary
B) the profit or loss allocated to non-controlling interests of the subsidiary during the reporting period.
C) accumulated non-controlling interests of the subsidiary at the end of the reporting period.
D) All of the given answers are required to be disclosed.

Question

Quizplus · Accepted Answer

AASB 12 requires all of the given answers to be disclosed for each subsidiary that has significant non-controlling interests. The summarised financial information provides context for the other information disclosed, while disclosing the profit or loss allocated to non-controlling interests and the accumulated non-controlling interests at the end of the reporting period provides insight into the level of influence held by non-controlling interests in the subsidiary.

AASB 12 Disclosure of Interests in Other Entities Requires an Entity