PAS 27 Separate FS

 
Learning Objectives

• Describe the applicability of PAS 27.

• Describe the measurement bases allowed
under PAS 27.

AA PART 1: Zeus Vernon B. Millan

Scope

• PAS 27 does not mandate which entities should produce

separate financial statements.
• An entity shall apply PAS 27 in accounting for
investments in subsidiaries, joint ventures and
associates when it elects, or is required by local
regulations, to present separate financial
statements.

AA PART 1: Zeus Vernon B. Millan

Separate financial statements

• 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. Separate financial statements need not
be appended to, or accompany, those statements.

AA PART 1: Zeus Vernon B. Millan

Preparation of separate financial statements
Separate financial statements shall be prepared in accordance
with all applicable PFRSs, except as follows:

• Investments in subsidiaries, associates and joint ventures are

accounted for in the separate financial statements either:
1. at cost,
2. in accordance with PFRS 9 Financial Instruments,
3. using the equity method

• The entity shall apply the same accounting for each

category of investments
AA PART 1: Zeus Vernon B. Millan
OPEN FORUM
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Conceptual Framework & Acctg.

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Standards (by: Zeus Vernon B. Millan)
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Conceptual Framework & Acctg. Standards (by: Zeus Vernon B. Millan) 7