need help related ifrs 10 ifrs 11 and ifrs 13

IFRS 10 Consolidated Financial Statement is mainly about the new definition of control. There are 3 components of control: 1. Power over the investee, which is the current ability to direct its activities significantly and affect returns; 2. Right to variable returns; 3. Ability to use the power over investee to affect amount of investor’s returns. Note that IFRS 10 only clarifies when consolidation is required(there is control over a investee), if doesnt change how to perform a consolidation(which is defined in IFRS 3).

IFRS 11 Jiont Arrangement. Equity method is the only method permitted to account for jiont arrangement now; and there are definitions of joint arrangement(joint control, unanimous consent) and the two forms of it(joint operation and joint venture, key distionction is rights and obligation).

IFRS13 Fair Value Measurement mainly clarifies how FV is defined and determined by entities. When other standards require FV measurement, you must refer to IFRS 13(Note that it doesnt apply to IFRS2 Share Based Payment and IAS17 Leases as FV is defined in both standards). When determining a FV, you should use price in the principal market; and if a principal market is absent, use price in the most advantageous market. Transaction cost is considered to determine the most advantageous market, but it is irrelevant to FV as transaction cost is excluded in FV of an asset or liability. And IFRS 13 also define a 3-tier hierarchy in input to valuation of FV. Level 1 input is quoted price(observable) in active market; level 2 input is quoted price(directly/indirectly obsevable) for a similiar asset in active/inactive market except those defined in level 1, and these figures need adjustment to get a FV; level 3 input is unobservable price based on best information available.

You should also know that IFRS 10 11 12 and 1AS 27(revised) 28(revised) comes in a set and should be adopted on a “all or none” basis except IFRS 12 which is relevant to the disclosures of intrests in other entity.

In addition, IAS 19 Emloyee Benifit is revised that only one method is permitted now. IAS 1 requires other comprehensive income to be classified as recycled or not recycled to profit or loss in sebsequent accounting period.

Hope this can help and check http://www.ifrs.org for further help.