22/06/2022

Bộ môn KẾ TOÁN TÀI CHÍNH

Chương 1

KHÁI QUÁT
CÁC KHOẢN ĐẦU TƯ VÀO
CÔNG CỤ VỐN VÀ HỢP
NHẤT KINH DOANH

11

NỘI DUNG
1. Ôn tập về cấu trúc của tập đoàn
2. Phân loại đầu tư vào công cụ vốn
3. Vận dụng chuẩn mực kế toán cho các khoản
đầu tư vào đơn vị khác
4. Khái niệm kiểm soát
5. Khái niệm ảnh hưởng đáng kể
6. Lý thuyết hợp nhất

1
 22/06/2022

Bộ môn KẾ TOÁN TÀI CHÍNH

Nhóm công ty trong luật doanh ngiệp 2020

Nhóm cty tồn tại dưới hai dạng là tập đoàn

kinh tế hoặc tổng cty

CẤU TRÚC CỦA

TẬP ĐOÀN

33

2
 22/06/2022

3
 22/06/2022

Phạm vi lập Báo cáo tài chính

BÁO CÁO TÀI

CHÍNH RIÊNG

BÁO CÁO BỘ PHẬN

BÁO CÁO TÀI
CHÍNH TỔNG HỢP giữa đơn vi cấp trên và cấp dưới trong đó đơn vị cấp dưới k có
pháp nhân riêng
cty mẹ và cty con là thực
thể kinh doanh, đơn vị
BÁO CÁO TÀI CHÍNH HỢP NHẤT kinh tế(group) không có
pháp
7 nhân

Introduction
Parent-Subsidiary Relationship
Group
Subsidiary

Consolidation:
Parent Process of preparing
Control and presenting
(Controlling Subsidiary
financial statements of
entity) parent and subsidiary
as if they were one
economic entity

Subsidiary
Consolidated FS:
Artificial creations
8

4
 22/06/2022

Bộ môn KẾ TOÁN TÀI CHÍNH

PHÂN LOẠI ĐẦU TƯ

VÀO CÔNG CỤ VỐN

99

liên doanh
đồng kiểm soát

liên kết
có ảnh hưởng đáng kể

10

5
 22/06/2022

Equity method

IFRS 9
11

Investing Strategies, Ownership Levels and

the Impact on Financial Reporting

Zero 20% 50% 100%

Ownership Ownership Ownership Ownership
Significant
Passive Control
Influence

Passive Active Active

Investment Investment Investment

• Trading • Associated
• Partially-owned subsidiary
securities company
• Fully-owned subsidiary
• Available- for- • Joint-
p
sale securities arrangements
u 1. Exert significant 1. Gain entry intro a new market
r 1. Earn dividend influence or 2. Achieve synergistic benefits
p 2. Make capital control over from complementary
o
gain investee’s strengths
s
operation 3. Gain market dominance
e
12

6
 22/06/2022

Voting rights
100%
Investment in
tìm hiểu kĩ 10 và
Subsidiary IFRS 10 3
Control IFRS 3
50%
Joint
Arrangement IFRS 11
joint control IAS 28
Investment in
Associate
IAS 28
20% significant influence
Other long-term
investments
Non - significant influence IFRS 9
0%

13

Tan, Lim and Kuah

© 2016 14
Chapter 2

7
 22/06/2022

Bộ môn KẾ TOÁN TÀI CHÍNH

KHÁI NIỆM KIỂM SOÁT

15
15

The Attributes of Control under IFRS 10

• An investor controls an khi dn có quyền đối với thu nhập của bên nhận đầu
investee if and only if tư
Power
the investor has all of quyền
the following: khả năng
– Power over the
investee
– Exposure, or rights to
Ability Control
variable returns from
its involvement with
the investee, and
– The ability to use its
power over the
investee to affect the Returns
amount of the
investor’s returns

16

8
 22/06/2022

KIỂM SOÁT

• Quyền lực (Power) đến từ:

- Quyền biểu quyết (voting rights)
- Quyền biểu quyết tiềm tàng (potential voting
rights)
- Quyền bổ nhiệm, bãi nhiệm, tái bổ nhiệm đa số
các thành viên chủ chốt
- Các quyền khác (được xác định trong hợp đồng)

17

The Attributes of Control: Power

P+A+R
• Sources of power: voting rights

Illustration 2.1 relative voting rights

Three investors have each more than 5% ownership
interests. The remaining 43% are dispersed over 100
investors, each not owning more than 0.5% interest. The
AGM is attended by investors A, B and C and about a third
of other investors. quyền biểu quyết
Voting rights Voting at AGM Relative voting rights
Investor A 40% 40% 57%
tương đối trên cơ
Investor B 10% 10% 14% sở quyền AGM
Investor C 7% 7% 10%
Other investors 43% 13% 19%
100% 70% 100%
18

ĐHCĐ thường niên

Annual General Meeting

9
 22/06/2022

The Attributes of Control: Power

P+A+R

• Sources of power: potential voting rights

– Rights to obtain voting rights from potential ordinary shares, e.g. options,
convertible instruments and forward or future contracts
– Consider the purpose and design, the terms and conditions, the motives for the
issue and the intent to vest control of these instruments

Illustration 2.2 potential voting rights nếu B thực hiện QC

Investor A, the founding investor, invited Investor B and Investor C to purchase shares in Entity X. B is cp ưu đãi (GTH
a strategic investor who has knowledge of Entity X’s business. A is a financial investor. C is a related
party of A. B was issued options that would allow B to be issued with 40,000 ordinary shares. <GTT) quyền kiểm
Consider: (a) The options are exercisable at current date? (b) exercisable in Year 3? soát thuộc về B

19

The Attributes of Control: Power

P+A+R
• Sources of power: power over key management personnel
– Control arises when an entity is able to make decisions on the activities that
are most significantly impact returns, and these decisions are made by key
management personnel
– The entity that is able to appoint, remove and remunerate these personnel
effectively has the power over these personnel.
– Key management personnel: persons having authority and responsibility for
planning, directing and controlling the activities of the entity, directly or
indirectly, including any director (whether executive or otherwise) of that
entity. (IAS 24)
– Key management personnel may include “shadow directors” or people who
control key management personnel of that entity.

20

10
 22/06/2022

The Attributes of Control: Ability

P+A+R

• In IFRS 10, an investor must demonstrate the ability to use

the power to affect the returns to the investor from its
involvement with the investee.
• Substantive rights
– Substantive rights relate to rights to make decisions on the most
significant activity (activities) that affect an entity’s returns.
– Consider whether there are barriers that prevent the use of the right,
e.g. financial barriers, operational barriers or legal and regulatory
barriers

21

The Attributes of Control: Ability

P+A+R
• Protective rights
– Rights must be substantive and not merely protective.
– Protective rights are decision making rights on fundamental changes to
an investee’s activities and are often relating to exceptional events, e.g.
the right of a lender to restrict the payment of dividends by the borrower
when lending covenants are breached

• Unilateral ability
– When an investor is able to exercise power on another entity without
restrictions from other parties
– Control is therefore different from joint control which requires unanimous
consent from parties.

22

11
 22/06/2022

The Attributes of Control: Ability

P+A+R
• Quyền bảo vệ (Protective rights)
– Các quyền phải thực chất và không chỉ là quyền bảo vệ
– Quyền bảo vệ là các quyền ra quyết định làm thay đổi căn bản hoạt
động của bên nhận đầu tư và thường liên quan đến các ngoại lệ, như
quyền bên cho vay hạn chế bên đi vay trả cổ tức khi hợp đồng vay bị vi
phạm.

• Khả năng đơn phương (Unilateral ability)

– Khi 1 Nhà đầu tư có khả năng thực hiện quyền lực với DN khác mà
không bị hạn chế bởi các bên khác
– Kiểm soát khác khác với đồng kiểm soát: ĐKS đòi hỏi sự nhất trí của tất
cả các bên.

23

The Attributes of Control: Ability

P+A+R
• Currently exercisable
– In the situations with potential ordinary shares, the rights must be
exercisable in a timely manner to enable the holder to direct
relevant activities to make returns.

Illustration 2.3 Decision making rights over different activities

Investor A and Investor B own 50% interest each in Entity X. Through
contractual agreement, Investor A has power to make decisions on
strategic policies relating to research and development while Investor B
has power to make decisions on strategic policies relating to marketing.
Discuss different scenarios.

24

12
 22/06/2022

The Attributes of Control: Returns

P+A+R
• An investor has to consider total variable returns that it is exposed or
have a right to as a result of its involvement with an investee.
– Variable returns: not fixed any may be only positive (e.g. option
holder), only negative (option writer) or both positive and
negative (e.g. holding ordinary shares)

• Return includes: dividends, changes in fair value, remuneration,

synergies, operational advantages to the investor and etc.

******************************************************************************
IFRS 10 is dynamic. Continually re-assess control when facts and
circumstances change with respect to power, ability and returns.
Power may be gained or lost through events that do not involve the investor.
25

Direct and Indirect Control

• For the test of control, IFRS 10 requires consideration of
control from rights held directly or indirectly through
subsidiaries.

Affiliation structures
X Co. Situation 1: X Co. Situation 2:
X Co. controls X Co. controls
Y Co. and A Co. Y Co., B Co.
100% Even though X.Co. 60% and Z Co.
indirectly owns Does not own
75% Break in A Co. (<51%)
Y Co. control at B and Y Co.
hence no control
50% 50% 60% over Z Co. 55% 60% 50%
xét quyền kiểm soát và tỷ lệ
quyền biểu quyếtcủa cty gián
B Co. Z Co. A Co. B Co. Z Co. A Co.
50% 40%
tiếp qua cty con
Situation 1 Situation 2 26

13
 22/06/2022

Bộ môn KẾ TOÁN TÀI CHÍNH

KHÁI NIỆM ẢNH

HƯỞNG ĐÁNG KỂ

27
27

What is Significant Influence?

Significant influence
Power to participate in the financial and operating policy decisions of
the investee but is less than control and is not equivalent to joint
control over those policies (IAS 28:2)
Default assumption:
An investor has ownership of 20% or more of the voting power and equal to
or less than 50% of the voting power in an investee, including “potential
voting rights”

Other evidences (IAS 28:7)

Number of directors Participation in
Operational
representing investors policy-making
interdependencies
on board processes
Investor must disclose reasons for not complying with default assumption
28

14
 22/06/2022

Ảnh hưởng đáng kể

• Ảnh hưởng đáng kể: là quyền tham gia vào các
quyết định về chính sách tài chính/ hoạt động của
bên nhận đầu tư nhưng không có quyền kiểm soát
hay đồng kiểm soát những chính sách này.
• Biểu hiện:
Có đại diện trong Hội đồng quản trị
Tham gia vào quá trình ra các quyết định về cổ tức và các
phân phối khác
Có các giao dịch trọng yếu giữa nhà đầu tư và bên nhận đầu tư
Có sự trao đổi về nhà quản lý
Cung cấp thông tin kỹ thuật quan trọng

29

Direct and Indirect Significant Influence

Multi-level structures
P
P
Situation 1: Situation 2:
80% 50% P has significant P has significant
influence over: 40% 50% influence over:
i) Y (50% direct i) A (40% direct
X Y interest) interest)
ii) Z (65% indirect A C ii) C (50% direct
interest) – P has interest)
50% no control over 80% iii) B (42% indirect
50% 20%
Y interest)

Z B

Situation 1 Situation 2

30

15
 22/06/2022

Example 1
X Ltd is operated on an joint arrangement between K
international Ltd and M Ltd. K Ltd accounts for 30%. The
residual portion belong to M Ltd. X Ltd’s regulation says:
• The Board has 6 member, of those 2 are from M Ltd, 4
are from K
• The Board is reselected in every 2 years
• The Board’s decisions are made when over 2/3 of the
Board’s member support

31

Example 2
There are 3 parties relating to ABC Ltd. The share of A Ltd, B
Ltd, C Ltd in ABC are 40%, 40%, 20%. Upon agreement:
(2a) Strategic decision is made when all the members support
(2b) Strategic decision is made when 80% the members
support
(2c) Strategic decision is made when majority of the members
support

32

16
 22/06/2022

Bộ môn KẾ TOÁN TÀI CHÍNH

LÝ THUYẾT HỢP NHẤT

33

Consolidation Theories
• Theories relating to consolidation are critical when the
percentage of ownership in a subsidiary is less than 100%

• Termed “partially owned subsidiary”, where the remaining

percentage is owned by shareholders who are collectively
referred to as “non-controlling interest” (NCI)
Parent Non-controlling interests

90% 10%

Subsidiary

Both parent and non-controlling interest have a proportionate share of

the subsidiary’s:
• Share capital
• Net profit;
• Retained profits and changes in equity
• Dividend distribution;
34

17
 22/06/2022

Consolidation Theories
Ownership of the combined entity Joint-ownership of the combined entity
involving a wholly owned subsidiary involving a partially owned subsidiary

Parent company’s shareholders Parent company’s shareholders

30%
Parent company ownership in Parent company
Non-controlling subsidiary
100% 70%
ownership shareholders of a ownership
subsidiary
Subsidiary Subsidiary

2 groups of shareholders
Wholly owned by the
1) The parent company’s shareholders; and
parent company’s
2) The non-controlling shareholders of the
shareholders
subsidiary
35

Comparison of Issues
Issues Entity Theory Parent Theory
Who are the primary Both non-controlling Benefit of parent
users of the consolidated interest and majority company shareholders
financial statements? shareholders

Shown as equity in Shown as equity in

How should non- BS based on: BS based on:
controlling interests be Consolidated equity Consolidated equity
reported in the = +
consolidated balance Consolidated assets NCI
sheet? − =
Consolidated liabilities Consolidated assets
−
Consolidated liabilities

36

18

Comparison of Issues
Issues
Should net assets of
the subsidiary acquired
be shown at full fair
values or at the
parent’s share of the
fair value?
Do non-controlling
shareholders have a
share of goodwill?
How should net profit of
partially-owned
subsidiary be reported?
Summary of Differences
Attributes
Fair value differences in
relation to identifiable
assets and liabilities at
date of acquisition
Presentation of NCI
Goodwill
22/06/2022
Entity Theory Parent Theory
Fair value of net NCI net assets of
assets of subsidiary subsidiary at date of
at date of acquisition acquisition shown at
reported in full book value
Goodwill = asset of Asset of parent
economic unit, and and restricted to
reflected in full parent’s share
Reported in full as NCI’s share of current
accruing to both profit is a deduction of
majority and NCI final profit
37
Entity Theory Parent Theory
Recognized in full,
Recognized only in
reflecting both parent’s
respect of parent’s
and NCI’s share of fair
share
value adjustments
Neither as equity or
As part of equity
debt
Goodwill is an entity
asset and should be Goodwill is parent’s
recognized in full as at asset
date of acquisition
38
19
 22/06/2022

The Implicit Consolidation Theory

Underlying IFRS 3

• IFRS 3 (2008) permits the acquirer to choose to recognize

or not recognize non-controlling interests’ share of goodwill.

• FASB through SFAS 141, now known as Codification Topic No. 805
Business Combinations, requires the recognition of the NCI’s share
of goodwill.

39

Illustration 1: Parent versus Entity Theory

Scenario
• P Co purchased 80% interest in S Co. on 1/1/20x1
• Consideration transferred: $1,200,000
• NCI: 20%
• BV of equity of S Co. at acquisition date (1/1/20x1): $1,200,000
• (FV – BV) of property: $100,000
(Ignore tax effect and depreciation)
• FV of NCI: $300,000
• BV of equity of S Co. at 31/12/20x1: $1,270,000
• Net profit after tax (NPAT) of S Co.: $70
• Net profit after tax (NPAT) of P Co.: $350

40

20