Subsidiary Accounting - IFRS
Hey guys,
I came across this webpage on subsidiary accounting in Macabacus (https://macabacus.com/accounting/subsidiary-accou…). Basically, if the investor acquires > 50% of the target, the financial statements are consolidated; if the investor acquires between 20 and 50%, they use the "equity method" (not fully consolidated); and if the investor acquires less than 20%, the portion of the equity purchased is treated as a simple financial investment.
However, I understand that Macabacus teaches this topic based on the USGAAP. I was wondering if the procedure is the same under the IFRS. If not, I would really appreciate it if you could tell me where to find the latest IFRS subsidiary accounting rules.
Thanks in advance,