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IFRS 10: Consolidated financial statements

IFRS 10 Consolidated Financial Statements establishes principles for the presentations and preparation of consolidated financial statements when an entity controls one or more other entities. The standard was published in May 2011 and is effective from 1 January 2013 (1 January 2014 for EU preparers).

Full text standard

Unaccompanied version of IFRS 10
The International Accounting Standards Board (IASB) provides free access to the consolidated unaccompanied international accounting standards for the current year through its website. Free registration is required.

This unaccompanied version does not include additional content that accompanies the full standard, such as illustrative examples, implementation guidance and bases for conclusions.

IFRS 10 summary and timeline

Looking for the synopsis? Our IFRS 10 summary and timeline are now on a separate page, featuring information on current proposals and a timeline of IASB updates.

Which version of the standard?

Financial Reporting Faculty members have unlimited online access to the consolidated edition of IFRS and amendments through the IASB's eIFRS service. Please log into eIFRS to access electronic versions of the standards. Or find out more about how to join the faculty.

The ICAEW Library & Information Service also holds print versions of the IFRS standards. Contact us by telephone on +44 (0)20 7920 8620, by web chat or by email at library@icaew.com

Related IFRIC interpretations

ICAEW guides and support


Interests in Other Entities
Financial Reporting Faculty, 30 January 2017
In May 2011, the IASB published a ‘package of five’ new and revised standards providing updated guidance on the accounting and disclosure requirements for investments in subsidiaries, joint ventures and associates: IFRS 10, IFRS 11, IFRS 12, IAS 27 (2011) and IAS 28 (2011). This exclusive factsheet for Financial Reporting Faculty members answers common questions about these standards.

Annual factsheets

These exclusive factsheets, produced annually by the Financial Reporting Faculty for its members, highlight all new and modified requirements for preparers of IFRS accounts. Each annual edition focuses primarily on new requirements with mandatory application for preparers with periods beginning on or after 1 January of that year.

2020 IFRS accounts
Financial Reporting Faculty, updated August 2021

2019 IFRS accounts
Financial Reporting Faculty, 4 December 2019 

Articles and features

Getting to grips with the IASB’s new consolidation standards
Andy Simmonds, By All Accounts, January 2012
From the Financial Reporting Faculty's magazine, Andy Simmonds, Chairman of the Financial Reporting Faculty and Partner in Deloitte LLP, looks at some of the practical implications of the IASB’s ‘package of five’ new and revised standards. The views expressed are very much his own. 


Access to eBooks is only available to ICAEW members and ACA students – please log in to view these titles.

Consolidated financial statements
EY, International GAAP 2021 (2020)
The latest edition of this comprehensive guide offers a global perspective on complex technical accounting issues to help practitioners interpret and implement IFRS. It contains worked examples and illustrations from published financial reports of major listed companies from around the world. This chapter discusses IFRS 10, alongside a separate chapter on Consolidation procedures and non-controlling interests.

If you have any difficulties using these eBooks, please see our Help and support advice or contact library@icaew.com.

Example accounts

IFRS model accounts and disclosure checklists
Online disclosure checklists, general IFRS illustrative statements and compliance questionnaires collected by the ICAEW Library.

Company Reporting (Croner-i)

The ICAEW Library can provide examples of real-life company reports to help keep you up-to-date with reporting practices and benchmark your financial reporting compliance. Company Reporting analyses current IFRS disclosures from public companies, organised by industry sector. It also provides detailed monthly Common Practice reports on specific issues.

Contact us on +44 (0)20 7920 8620, by web chat, or at library@icaew.com to get any documents from Company Reporting.

External resources

Some guides and comparisons that we link to may pre-date the latest amendments to this standard. While these resources contain useful information, please treat them with appropriate caution.

IFRS 10 – Consolidated Financial Statement
Regularly updated timeline and summary from Deloitte IAS Plus, with information on related interpretations and amendments under consideration.

IFRS 10 for asset managers and other related issues
Detailed guide produced by PwC in January 2017. It offers guidance on how to apply the standard in a number of different scenarios.

IFRS 10 and 12 – Questions and answers
Guide from PwC, updated in January 2015, covering power, exposure to variability, principal-agent analysis, silos, disclosure and transition provisions. It also includes a number of comprehensive case studies.

Investment entities amendment – Exception to consolidation
Question and answer guide produced by PwC in December 2014 on the application of the investment entities amendment.

Challenges in adopting and applying IFRS 10
Guide published by EY in December 2013 focusing on requirements of IFRS 10 that differ most from IAS 27 and other key implementation issues.

IFRS 10 Consolidated Financial Statements
Guide published by Ernst & Young in December 2013 analysing the impact of IFRS 10.

A practical guide to IFRSs 10 and 12: Questions and answers
Detailed guide produced by PwC, updated in November 2013. The guide examines common issues that arise in implementing the new standards.

Accounting for collaborations in the life sciences sector: Challenges in applying IFRS 10 and IFRS 11
Guide, with examples, produced by EY in June 2013.

A practical guide to new IFRSs for 2013
Guide published by PwC in March 2013 covering new standards and interpretations, including IFRS 10 with transition guidance and information on amendments on the exception from consolidation for investment entities.

Further reading

Manuals and handbooks

The ICAEW Library stocks the latest IFRS handbooks and manuals. You can browse all our books on IFRS 10 and consolidated accounts or request any of the following popular titles by contacting us on +44 (0)20 7920 8620, by web chat, or at library@icaew.com

Insights into IFRS 2020–21
KPMG, Sweet and Maxwell, 2020
Manual providing practical guidance with an emphasis on the real-life application of IFRS, with examples based on actual questions that have arisen in practice around the world.

Wiley IFRS 2020: Interpretation and application of IFRS standards
PKF, Wiley, 2020
Reference manual providing full coverage of the latest standards and thorough guidance for implementation, featuring practical tools and insight from a practitioner's perspective.

Manual of accounting: IFRS supplement 2020
PwC, LexisNexis, 2019
Practical guidance on the standards and the accounting requirements of UK law applicable to UK users of IFRS.

Principles of group accounting under IFRS
Andreas Krimpmann, Wiley, 2015
This book gives practical guidance on managing the issues specific to international group accounting under IFRS 10, IFRS 11 and IFRS 12, illustrated with a step-by-step case study of a mid-size group. 

Find out more about how you can borrow books from the ICAEW Library or get articles and documents sent to you by email or post.

Ask ICAEW Technical Advisory Service

Get an opinion from the experts. Our experienced technical advisors can help you with your new UK GAAP questions and offer practical advice. Call the advisory helpline on +44 (0)1908 248 250.

Questions on IFRS 10 that we've dealt with recently include:

  • Do I need to prepare consolidated financial statements for these entities?
  • Am I eligible for an exemption in preparing consolidated financial statements?
  • Regarding control of an entity achieved in stages, how to account at each stage and at what point do I prepare consolidated financial statements?
  • How do I consolidate accounts for group entities with different year ends?

Find out more about the Technical and ethics advisory helpline, including our opening hours.

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