IFRS PRACTICAL IMPLEMENTATION GUIDE AND WORKBOOK

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Wiley IFRS: Practical Impl ementation Guide and Workbook

The flowchart illustrates these steps.

r---- --- -------, I. Consolidate all subsid iaries (including any SPE).

2. Determine whether the principles should be applied to a part or all of an asset (or group).

Yes

No

A. Derecognize the asse t.

B. Continue to recognize the asset.

No

C. Continue to recognize the asset to the extent of the continuing involvement.