BC30 An entity may elect to use one or more of the following exemptions:

(a) business combinations (paragraphs BC31–BC40);

(b) deemed cost (paragraphs BC41–BC47K);

(c) employee benefits (paragraphs BC48–BC52);

(d) cumulative translation differences (paragraphs BC53–BC55C);

(e) compound financial instruments (paragraphs BC56–BC58);

(f) investments in subsidiaries, jointly controlled entities [‘Jointly controlled entities’ were defined in IAS 31 Interests in Joint Ventures. IFRS 11 Joint Arrangements, issued in May 2011, replaced IAS 31 and changed the terminology.] and associates (paragraphs BC58A–BC58M);

(g) assets and liabilities of subsidiaries, associates and joint ventures (paragraphs BC59–BC63);

(h) designation of previously recognised financial instruments (paragraph BC63A);