ASCENDAS india trust ANNUAL REPORT 2014/15
N O T E S T O T H E F I N A N C I A L S T A T E M E N T S
For the financial year ended 31 March 2015
2.
Significant accounting policies (continued)
2.5 Basis of Consolidation And Business Combinations
(a)
Basis of consolidation
The consolidated financial statements comprise the financial statements of the Trust and its subsidiaries (including
special purpose entities) as at the end of the reporting period. The financial statements of the subsidiaries used in the
preparation of the consolidated financial statements are prepared for the same reporting date as the Trust. Consistent
accounting policies are applied to the like transactions and events in similar circumstances.
All intra-group balances, income and expenses and unrealised gains and losses resulting from intra-group transactions
and dividends are eliminated in full.
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 of a subsidiary are attributed to the non-controlling interest even if that results in a deficit 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:
(i)
derecognises the assets (including goodwill) and liabilities of the subsidiary at their carrying amounts at the
date when control is lost;
(ii)
derecognises the carrying amount of any non-controlling interest;
(iii)
derecognises the cumulative translation differences recorded in unitholders’ funds;
(iv)
recognises the fair value of the consideration received;
(v)
recognises the fair value of any investment retained;
(vi)
recognises any surplus or deficit in profit or loss;
(vii)
reclassifies the Group’s share of components previously recognised in other comprehensive income to profit
or loss or retained earnings, as appropriate.
