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companies names are kawan food manufacturing company and euro holdings

have to show if mfrs 10 is followed or not in the companies ( kawan food manufacturing company and euro holdings)

Accounting disclosure checklist- MFRS 10 Company name: Num MERS Consolidated Financial Statements - MFRS 10 ber Reference No Reference for (name of the selected company) Reference for (name of the selected company) Purpose This section of the checklist addresses the accounting requirements of MFRS 10 Consolidated Financial Statements, which prescribes the accounting principles for the presentation and preparation of consolidated financial statements where an entity controls one or more other entities. The primary objectives of MFRS 10 are to (a) define the principle of control, and establish control as the basis for consolidation in the consolidated financial statements, (b) set out requirements on how to apply the principle of control (c) set out the accounting requirements for the preparation of consolidated financial statements and (d) defines an investment entity and sets out an exception to consolidating particular subsidiaries of an investment entity. Q1 Does the reporting entity control' one or more entities during or at the end of the reporting period? Q2 an Does the reporting entity have power over investee? Q3 Did the reporting entity prepare and present consolidated financial statements? If, no. Is this justified on the basis that all of the following conditions have been met? 1. the parent is itself a wholly-owned subsidiary, or is a partially-owned subsidiary of another entity and its other owners, including those not otherwise entitled to vote, have been informed about, and do not object to the parent not presenting consolidated financial statements; II. the parent's debt or equity instruments are not traded in a public market (a domestic or foreign stock exchange or an over-the- counter market, including local and regional markets); III. the parent did not file, nor is it in the process of filing, its financial statements with a securities commission or other regulatory organisation for the purpose of issuing any class of instruments in a public market; and IV. its ultimate or any intermediate parent produces consolidated financial statements available for public use comply with MERS? Has the reporting entity prepared consolidated financial statements using uniform accounting policies for like transactions and other events in similar circumstances? Q4 Q4 15 Q5 Q5 Has the reporting entity begun the consolidation from the date the reporting entity / investor obtained control of the investee and cease when the reporting entity/investor lost control over the investee? Q6 Do the reporting entity and its subsidiary companies have the same reporting date? Q7 If a member of the group uses accounting policies other than those adopted in the consolidated financial statements for like transactions and events in similar circumstances, have appropriate adjustments been made to that group member's financial statements in preparing the consolidated financial statements to ensure conformity with the group's accounting policies? Q8 Has the parent presented non-controlling interests in the consolidated statement of financial position within equity, separately from the equity of the owners of the parent? 10 innt bon utotonding umuotilo the parent? Q9 Does a subsidiary have outstanding cumulative preference shares that are held by non-controlling interests and classified as equity? Q10 If the reporting entity loses control of a subsidiary: Has the reporting entity derecognised the assets (including any goodwill) and liabilities of the subsidiary at their carrying amounts at the date when control is lost? Q11 Is the entity applying MFRS 10 for the first time? If yes, has the reporting entity applied MFRS 10 retrospectively in accordance with MERS 108 Accounting Policies, Changes in Accounting Estimates and Errors, except as specified in paragraphs C2A-C6 of MERS 10? Yes - Indicates compliance with MERS, No Indicates non-compliance with MERS, NA - indicates the company does not have this transaction Accounting disclosure checklist- MFRS 10 Company name: Num MERS Consolidated Financial Statements - MFRS 10 ber Reference No Reference for (name of the selected company) Reference for (name of the selected company) Purpose This section of the checklist addresses the accounting requirements of MFRS 10 Consolidated Financial Statements, which prescribes the accounting principles for the presentation and preparation of consolidated financial statements where an entity controls one or more other entities. The primary objectives of MFRS 10 are to (a) define the principle of control, and establish control as the basis for consolidation in the consolidated financial statements, (b) set out requirements on how to apply the principle of control (c) set out the accounting requirements for the preparation of consolidated financial statements and (d) defines an investment entity and sets out an exception to consolidating particular subsidiaries of an investment entity. Q1 Does the reporting entity control' one or more entities during or at the end of the reporting period? Q2 an Does the reporting entity have power over investee? Q3 Did the reporting entity prepare and present consolidated financial statements? If, no. Is this justified on the basis that all of the following conditions have been met? 1. the parent is itself a wholly-owned subsidiary, or is a partially-owned subsidiary of another entity and its other owners, including those not otherwise entitled to vote, have been informed about, and do not object to the parent not presenting consolidated financial statements; II. the parent's debt or equity instruments are not traded in a public market (a domestic or foreign stock exchange or an over-the- counter market, including local and regional markets); III. the parent did not file, nor is it in the process of filing, its financial statements with a securities commission or other regulatory organisation for the purpose of issuing any class of instruments in a public market; and IV. its ultimate or any intermediate parent produces consolidated financial statements available for public use comply with MERS? Has the reporting entity prepared consolidated financial statements using uniform accounting policies for like transactions and other events in similar circumstances? Q4 Q4 15 Q5 Q5 Has the reporting entity begun the consolidation from the date the reporting entity / investor obtained control of the investee and cease when the reporting entity/investor lost control over the investee? Q6 Do the reporting entity and its subsidiary companies have the same reporting date? Q7 If a member of the group uses accounting policies other than those adopted in the consolidated financial statements for like transactions and events in similar circumstances, have appropriate adjustments been made to that group member's financial statements in preparing the consolidated financial statements to ensure conformity with the group's accounting policies? Q8 Has the parent presented non-controlling interests in the consolidated statement of financial position within equity, separately from the equity of the owners of the parent? 10 innt bon utotonding umuotilo the parent? Q9 Does a subsidiary have outstanding cumulative preference shares that are held by non-controlling interests and classified as equity? Q10 If the reporting entity loses control of a subsidiary: Has the reporting entity derecognised the assets (including any goodwill) and liabilities of the subsidiary at their carrying amounts at the date when control is lost? Q11 Is the entity applying MFRS 10 for the first time? If yes, has the reporting entity applied MFRS 10 retrospectively in accordance with MERS 108 Accounting Policies, Changes in Accounting Estimates and Errors, except as specified in paragraphs C2A-C6 of MERS 10? Yes - Indicates compliance with MERS, No Indicates non-compliance with MERS, NA - indicates the company does not have this transaction