IFRS 10 is the International Financial Reporting Standard that establishes principles for the preparation and presentation of consolidated financial statements when an entity controls one or more other entities. It defines control as the power to govern the financial and operating policies of an entity to obtain benefits from its activities, ensuring that financial statements provide a true and fair view of the entire group. This standard plays a crucial role in determining how entities present their financial information, particularly in situations involving changes in ownership interests and identifying related parties.
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