68 / 140
Asia Media Group Berhad
►
Annual Report 2015
Notes to the Financial Statements
(continued)
pg.
67
2.
Basis of preparation (cont’d)
(a) Basis of consolidation (cont’d)
Subsidiaries are consolidated from the date of acquisition or the date of incorporation,
being the date on which the Company obtains control and continue to be consolidated
until the date that such control effectively ceases. Control is achieved when the Group is
exposed to, or has rights, to variable returns from its involvement with the investee and
has the ability to affect those returns through its power over the investee.
When the Group has less than a majority of the voting or similar rights of an investee, the
Group considers all relevant facts and circumstances in assessing whether it has power
over an investee, including:
•
The contractual arrangement with the other vote holders of the investee;
•
Rights arising from other contractual arrangements; and
•
The Group’s voting rights and potential voting rights.
The Group reassesses whether or not it controls an investee if facts and circumstances
indicate that there are changes to one or more of the three elements of control.
All intra-group assets and liabilities, equity, income, expenses, cash flows and unrealised
gains and losses relating to transactions between members of Group are eliminated in full
on consolidation.
Non-controlling interest represents the equity in subsidiaries not attributable, directly or
indirectly, to owners of the Company,and is presented separately in the consolidated
statement of comprehensive income and within equity in the consolidated statement of
financial position, separately from equity attributable to owners of the parent.
Changes in the company owners’ ownership interest in a subsidiary that do not result in a
loss of control are accounted for as equity transactions.In such circumstances, the carrying
amounts of the controlling and non-controlling interests are adjusted to reflect the changes
in their relative interests in the subsidiary. Any difference between the amount by which the
non-controlling interest is adjusted and the fair value of the consideration paid or received
is recognised directly in equity and attributed to owners of the parent.