# Commission Regulation (EC) No 494/2009 of 3 June 2009 amending Regulation (EC) No 1126/2008 adopting certain international accounting standards in accordance with Regulation (EC) No 1606/2002 of the European Parliament and of the Council as regards International Accounting Standard (IAS) 27 (Text with EEA relevance) (revoked) EU Regulation No 494/2009 · adopted 3 June 2009 Commission Regulation (EC) No 494/2009 of 3 June 2009 amending Regulation (EC) No 1126/2008 adopting certain international accounting standards in accordance with Regulation (EC) No 1606/2002 of the European Parliament and of the Council as regards International Accounting Standard (IAS) 27 (Text with EEA relevance) ## Introductory text Commission Regulation (EC) No 494/2009 of 3 June 2009 amending Regulation (EC) No 1126/2008 adopting certain international accounting standards in accordance with Regulation (EC) No 1606/2002 of the European Parliament and of the Council as regards International Accounting Standard (IAS) 27 (Text with EEA relevance) (revoked) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## Signature . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## INTERNATIONAL ACCOUNTING STANDARD 27 Consolidated and Separate Financial Statements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## SCOPE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## DEFINITIONS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 4 The following terms are used in this Standard with the meanings specified: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 7 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 8 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## PRESENTATION OF CONSOLIDATED FINANCIAL STATEMENTS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 9 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 10 A parent need not present consolidated financial statements if and only if: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 11 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## SCOPE OF CONSOLIDATED FINANCIAL STATEMENTS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 12 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 13 Control is presumed to exist when the parent owns, directly or indirectly through subsidiaries, more than half of the voting power of an entity unless, in exceptional circumstances, it can be clearly demonstrated that such ownership does not constitute control. Control also exists when the parent owns half or less of the voting power of an entity when there is: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 14 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 15 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 16 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 17 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## CONSOLIDATION PROCEDURES . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 18 In preparing consolidated financial statements, an entity combines the financial statements of the parent and its subsidiaries line by line by adding together like items of assets, liabilities, equity, income and expenses. In order that the consolidated financial statements present financial information about the group as that of a single economic entity, the following steps are then taken: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 19 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 20 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 21 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 22 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 23 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 24 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 25 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 26 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 27 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 28 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 29 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 30 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 31 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## LOSS OF CONTROL . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 32 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 33 A parent might lose control of a subsidiary in two or more arrangements (transactions). However, sometimes circumstances indicate that the multiple arrangements should be accounted for as a single transaction. In determining whether to account for the arrangements as a single transaction, a parent shall consider all of the terms and conditions of the arrangements and their economic effects. One or more of the following may indicate that the parent should account for the multiple arrangements as a single transaction: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 34 If a parent loses control of a subsidiary, it: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 35 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 36 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 37 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## ACCOUNTING FOR INVESTMENTS IN SUBSIDIARIES, JOINTLY CONTROLLED ENTITIES AND ASSOCIATES IN SEPARATE FINANCIAL STATEMENTS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 38 When an entity prepares separate financial statements, it shall account for investments in subsidiaries, jointly controlled entities and associates: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 38A . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 38B When a parent reorganises the structure of its group by establishing a new entity as its parent in a manner that satisfies the following criteria: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 38C . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 39 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 40 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## DISCLOSURE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 41 The following disclosures shall be made in consolidated financial statements: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 42 When separate financial statements are prepared for a parent that, in accordance with paragraph 10, elects not to prepare consolidated financial statements, those separate financial statements shall disclose: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 43 When a parent (other than a parent covered by paragraph 42), venturer with an interest in a jointly controlled entity or an investor in an associate prepares separate financial statements, those separate financial statements shall disclose: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## EFFECTIVE DATE AND TRANSITION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 44 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 45 An entity shall apply the amendments to IAS 27 made by the International Accounting Standards Board in 2008 in paragraphs 4, 18, 19, 26–37 and 41(e) and (f) for annual periods beginning on or after 1 July 2009. Earlier application is permitted. However, an entity shall not apply these amendments for annual periods beginning before 1 July 2009 unless it also applies IFRS 3 (as revised by the International Accounting Standards Board in 2008). If an entity applies the amendments before 1 July 2009, it shall disclose that fact. An entity shall apply the amendments retrospectively, with the following exceptions: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 45A . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 45B . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 45C . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## WITHDRAWAL OF IAS 27 (2003) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## 46 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## Amendments to other IFRSs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . A1 In the following International Financial Reporting Standards applicable at 1 July 2009, references to ‘minority interest’ are amended to ‘non-controlling interest’ in the paragraphs identified: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . IFRS 1 First-time Adoption of International Financial Reporting Standards . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . A2 IFRS 1 is amended as described below. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . IFRS 5 Non-current Assets Held for Sale and Discontinued Operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . A3 IFRS 5 is amended as described below. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . IAS 1 Presentation of Financial Statements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . A4 Paragraph 106 of IAS 1 (as revised in 2007) is amended as follows: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . IAS 7 Statement of Cash Flows . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . A5 IAS 7 is amended as described below. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . IAS 21 The Effects of Changes in Foreign Exchange Rates . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . A6 IAS 21 is amended as described below. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . IAS 28 Investments in Associates . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . A7 IAS 28 is amended as described below. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . IAS 31 Interests in Joint Ventures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . A8 IAS 31 is amended as described below. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . IAS 39 Financial Instruments: Recognition and Measurement . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . A9 IAS 39 is amended as described below. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . SIC-7 Introduction of the Euro . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . A10 SIC-7 is amended as described below. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . --- Source: https://www.legislation.gov.uk/eur/2009/494 (the official version) Page: https://openlegislation.uk/eu-regulation-2009-494 Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.