top of page

Concept of Control

Updated: Sep 1, 2019

Over the next couple of articles, we will review how certain types of transactions are recorded for financial reporting purposes. How we recognize and disclose related-party transactions (for both IFRS and ASPE) can depend on who controls the entity. So first, we shall review the concept of control.

An individual or entity is considered to have either little to no influence, significant influence, control or joint control based on its percentage ownership of the entity. The following table summarizes the different levels of control and what they mean for the reporting entity.

Help improve this article

If you have feedback or questions, please leave a comment in the section below.

Sign Up!

Click our Sign Up button (top of page) to receive updates, additional exam prep information and to connect with our community.

459 views0 comments

Recent Posts

See All

Debits and Credits

Debits (Dr.) and credits (Cr.) are used to ensure inflows and outflows of transactions (assets/liabilities) are always balanced. In order balance journal entries, certain types of accounts will increa

Using your Financial Calculator

You may be using a calculator for your work or while studying for your CPA Exams (CFE exams). Understanding how to make full use of your calculator can help increase your efficiency substantially. As

Analyzing Financial Issues

When analyzing financial case studies, always break them down into smaller issues, which can then be addressed individually. If you are writing your CPA Exams (CFE or others), exam time will be const


bottom of page