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NOTES TO FINANCIAL STATEMENTS
For the fnancial year ended 31 March 2014
2. Summary of significant accounting policies (cont’d)
2.6 Basis of consolidation and business combination (cont’d)
(a) Basis of consolidation (cont’d)
Basis of consolidation from 1 January 2010 (cont’d)
Subsidiaries are consolidated from the date of acquisition, being the date on which the Group obtains control, and continue to be
consolidated until the date that such control ceases.
Losses within a subsidiary are attributed to the non-controlling interest even if that results in a defcit balance.
A change in the ownership interest of a subsidiary, without a loss of control, is accounted for as an equity transaction. If the Group
loses control over a subsidiary, it:
- De-recognises the assets (including goodwill) and liabilities of the subsidiary at their carrying amounts at the date when
controls is lost;
- De-recognises the carrying amount of any non-controlling interest;
- De-recognises the cumulative translation differences recorded in equity;
- Recognises the fair value of the consideration received;
- Recognises the fair value of any investment retained;
- Recognises any surplus or defcit in proft or loss;
- Re-classifes the Group’s share of components previously recognised in other comprehensive income to proft or loss or
retained earnings, as appropriate.
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