13RU-015 Not-for-profit guidance: when an entity controls another entity

13RU-015 Not-for-profit guidance: when an entity ...

This Reporting Update provides an overview of AASB 2013-8 Amendments to Australian Accounting Standards Australian Implementation Guidance for Not-for-Profit Entities – Control and Structured Entities.


This guidance is designed to assist not-for-profit entities in the public and private sector in their application of AASB 10 Consolidated Financial Statements and AASB 12 Disclosure of Interests in Other Entities.

The guidance does not change the principles contained within these standards but rather explains how these principles apply from the perspective of not-for-profit entities.

Key insights

  • AASB 10 now contains guidance on determining when a not-for-profit entity controls another entity.
  • Guidance does not amend or change the principles contained within AASB 10 and AASB 12.
  • Effective for years commencing on or after 1 January 2014 i.e. 30 June 2015 year ends.

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