An associate is an entity over which the investor has significant influence.

Consolidated financial statements are the financial statements of a group in which the assets, liabilities, equity, income, expenses and cash flows of the parent and its subsidiaries are presented as those of a single economic entity.

An investor controls an investee when it is exposed, 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.

The equity method is a method of accounting whereby the investment is initially recognized at cost and adjusted thereafter for the post-acquisition change in the investor's share of the investee's net assets. The investor's profit or loss includes its share of the investee's profit or loss and the investor's other comprehensive income includes its share of the invetee's other compreh ensive income.

The price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.

The excess of the cost of the investment over the investor's interest in the net fair value of an investee's identifiable assests and liabilities on acquisition.

The amount by which the carrying amount of an asset or a cash-generating unit exceeds its recoverable amount.

The carrying amount of an investment in an associate or joint venture together with any long-term interests that, in substance, from part of the investor's net investment in the associate or joint venture. Such items may include preference shares and long-term receivables or loans but do not include trade receivables, trade payables or any long-term receivables for which adequate collateral exists, such as secured loans.

An investment entity is an entity that:

(a) obtains funds from one or more investors for the purpose of providing those investor(s) with investment management services;

(b) commits to its investor(s) that its business purpose is to invest funds solely for returns from capital appreciation, investment income, or both; and

(c) measures and evaluates the performance

An arrangement of which two or more parties have joint control.

Joint control is the contractually agreed sharing of control of an arrangement, which exists only when decisions about the relevant activities require the unanimous consent of the parties sharing control.

A joint venture is a joint arrangement whereby the parties that joint control of the arrangement have rights to the net assets of the arrangement. Those parties are called joint ventures.

Separate financial statements are those presented by an entity, in which the entity could elect, subject to the requirements in IAS 27 Separate Financial Statement, to account for its investments in subsidiaries, joint ventures and associates either at cost, in accordance with IAS 39 Financial Instruments: Recognition and Measurement (or, if adopted, IFRS 9 Financial Instruments), or using the equity method as described in IAS 28.

Significant influence is the power to participate in the financial and operating policy decisions of the investee but is not control or joint control over those policies.

An entity that is controlled by another entity (known as the 'parent').