BC21 Consolidated financial statements present the financial position, comprehensive income and cash flows of the group as a single entity. They ignore the legal boundaries of the parent and its subsidiaries. However, those legal boundaries could affect the parent's access to and use of assets and other resources of its subsidiaries and, therefore, affect the cash flows that can be distributed to the shareholders of the parent.
BC22 When the Board was developing IFRS 12, users informed the Board that, as part of their analysis of financial statements, they need to identify profit or loss and cash flows attributable to the shareholders of the parent and those attributable to non‑controlling interests.
BC23 IAS 1 provides some of the information necessary to perform the valuations by requiring an entity to present:
(a) in the statement of financial position, the non‑controlling interest within equity;
(b) in the statement of comprehensive income, profit or loss and total comprehensiv
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