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Compiled AASB Standard  AASB 10

Consolidated Financial Statements

This compiled Standard applies to annual periods beginning on or after 1 January 2025.  Earlier application is permitted for annual periods beginning on or after 1 January 2014 but before 1 January 2025.  It incorporates relevant amendments made up to and including 7 November 2024.
Prepared on 25 February 2025 by the staff of the Australian Accounting Standards Board.

Compilation no. 6

Compilation date:  31 December 2024

Obtaining copies of Accounting Standards
Compiled versions of Standards, original Standards and amending Standards (see Compilation Details) are available on the AASB website:  aasb.gov.au and standards.aasb.gov.au.
Australian Accounting Standards Board
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Collins Street West
Victoria   8007
AUSTRALIA
Phone: (03) 9617 7600
E-mail: standard@aasb.gov.au
Website: www.aasb.gov.au

Other enquiries
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E-mail: standard@aasb.gov.au

COPYRIGHT
© Commonwealth of Australia 2025
This compiled AASB Standard contains IFRS Foundation copyright material.  Reproduction within Australia in unaltered form (retaining this notice) is permitted for personal and non-commercial use subject to the inclusion of an acknowledgment of the source.  Requests and enquiries concerning reproduction and rights for commercial purposes within Australia should be addressed to The Managing Director, Australian Accounting Standards Board, PO Box 204, Collins Street West, Victoria 8007.
All existing rights in this material are reserved outside Australia.  Reproduction outside Australia in unaltered form (retaining this notice) is permitted for personal and non-commercial use only.  Further information and requests for authorisation to reproduce IFRS Foundation copyright material for commercial purposes outside Australia should be addressed to the IFRS Foundation at www.ifrs.org.

Contents

COMPARISON WITH IFRS 10
ACCOUNTING STANDARD
AASB 10 CONSOLIDATED FINANCIAL STATEMENTS

from paragraph
Objective 1
Meeting the objective 2
Scope 4
Control 5
Power 10
Returns 15
Link between power and returns 17
Accounting requirements 19
Non-controlling interests 22
Loss of control 25
Determining whether an entity is an investment entity 27
Investment entities: exception to consolidation 31
Commencement of the legislative instrument
Withdrawal of AASB pronouncements Aus33.2
Appendices
A  Defined terms
B  Application guidance
C  Effective date and transition
E  Australian implementation guidance for not-for-profit entities

Australian application guidance
COMPILATION DETAILS
Deleted IFRS 10 text
BASIS FOR CONCLUSIONS ON AASB 2011-5 AND AASB 2011-6
BASIS FOR CONCLUSIONS ON AASB 2013-5 AND DISSENTING VIEWS
BASIS FOR CONCLUSIONS ON AASB 2013-8

available on the AASB website
Basis for Conclusions on IFRS 10

Australian Accounting Standard AASB 10 Consolidated Financial Statements (as amended) is set out in paragraphs 1 – Aus33.2 and Appendices A – C and E.  All the paragraphs have equal authority.  Paragraphs in bold type state the main principles.  Terms defined in Appendix A are in italics the first time they appear in the Standard.  AASB 10 is to be read in the