Which of the following is not applicable when a retained investment ceases to be an...
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Accounting
Which of the following is not applicable when a retained investment ceases to be an associate or a joint venture accounted for in accordance with IAS 28?
If the investment becomes a subsidiary, the entity shall account for the investment in accordance with IFRS 3 Business Combinations, and IFRS 10 Consolidated Financial Statements.
If the retained investment is a financial asset, the investment should initially be recognized under IFRS 9 Financial Instruments, at the carrying amount of the investment on the date it ceases to be an associate or joint venture.
An entity should account for all amounts previously recognized in other comprehensive income in relation to that investment on the same basis as would have been required if the investee had directly disposed of the related assets or liabilities.
If the retained investment is a financial asset, the investment should initially be recognized under IFRS 9 Financial Instruments, at the fair value of the investment on the date it ceases to be an associate or joint venture.
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