Trustco — Investor Presentation (March 2023)
11 slides from Trustco's investor presentation, Mar 30, 2023
Slide 1: Financial Reporting as an Investment Entity
Financial Reporting as an Investment Entity 30 March 2023
Slide 2: Disclaimer
Disclaimer This Document has been prepared by Trustco Group The information contained in this presentation (the Holdings Ltd. It is protected by International Copyright laws Information) is confidential and is proprietary to Trustco and is for the recipient’s use in connection with considering a Gro
Slide 3: IFRS 10 Exception to consolidation
IFRS 10 Exception to “…an investment entity shall not consolidate its subsidiaries or apply consolidation IFRS 3 when it obtains control of another entity. Instead, an investment entity IFRS 10 is an international financial reporting standard that sets out the guidelines for the preparation and pres
Slide 4: IFRS 10 Investment Entity
IFRS 10 “A parent shall determine whether it is an investment entity. An investment entity is an entity that: Investment Entity (a) obtains funds from one or more investors for the purpose of providing those investor(s) with investment management services; The rationale behind the consolidation exce
Slide 5: IFRS 10 & 13 Fair Value
IFRS 10 & 13 “Fair value is the price that would be received to sell an asset or paid to Fair Value transfer a liability in an orderly transaction in the principal (or most IFRS 10 requires investment entities to measure their investments at fair value, which is defined as the price that would be re
Slide 6: IFRS 10 transition: From consolidation to investment entity
IFRS 10 transition: From consolidation to investment entity Three (simplified) Steps: 1. Derecognize previously consolidated assets and liabilities as a deemed disposal: When an entity becomes an investment entity, it needs to derecognize any previously consolidated subsidiaries as a deemed disposal
Slide 7: IFRS 10 transition: Statement of Financial Position
IFRS 10 transition Statement of Financial Position Derecognize previously consolidated assets and liabilities Recognize investment subsidiaries at fair value 7
Slide 8: IFRS 10 transition: Statement of Profit or loss
IFRS 10 transition Statement of Profit or loss Revalue investment to fair value at year- end Recognize investment subsidiaries at fair value through gains on deemed disposal of subsidiaries 8
Slide 9: Changes to Investments
Changes to Investments Recognize investment subsidiaries at Revalue investment fair value through gains on deemed to fair value at year- disposal of subsidiaries end 9
Slide 10: In investing, what is comfortable is rarely profitable
“ “In investing, what is comfortable is rarely profitable.” - Robert Arnott 10
Slide 11: Thank you!
Thank you! Questions? 11
Trustco Group Holdings — Investor Presentation (March 2023) on 6ix