Written by: Barbora Choi on Thu Apr 02
concept of control in accordance with IFRS 10 Consolidated Financial Statements
If facts and circumstances indicate that there are changes to one or more of the tree elements of control a reassessment of control is needed.
“Good that you ask - you should always ask, always have doubts.”
I like this particular (and short!) IFRIC Agenda Decision because I think anyone can come across a similar question.
⏩ Contract terms, governing documents and gentlemen's agreements change all the time. Take a look at how to analyse the topic in the attached carousel.
Tip: I also added "the one question" I would ask if being approached with this or a similar task IRL.
🔹 Full paper of the IFRIC Agenda Decision:
https://lnkd.in/eTcgjsh3
