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Consolidated Financials are prepared in accordance with the following IFRS and IAS:

  • IAS 27 “Consolidated Financial Statements”

  • IAS 28 “Accounting for Investments in Associates”

  • IAS 31 “Financial Reporting of Interest in Joint-Ventures”

  • IAS 39 “Financial Instruments: Recognition and Measurement”

  • IFRS 3 “Business Combinations”

IAS 39 - Financial Instruments: “Recognition and Measurement

    1. All financial assets and liabilities (includes derivatives) on B/S
    2. financial assets initially at cost then mostly at FV
    3. Financial liabilities generally at amortised cost
    4. Fair Value changes either :
    • all to P&L or
    • some to Equity

        1. Hedge accounting allowed if meet criteria

        1. Derecognition only when control transferred

        1. Significant extra disclosures

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