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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
A.
Derecognize the
asse t.
No
C.
Continue to recognize the asset
to the extent of the continuing
involvement.
No
B. Continue to
recognize the asset.