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<h1>Control of an investee determines consolidation and requires power, variable returns, and ability to affect those returns.</h1> Ind AS 110 requires parents that control one or more subsidiaries to present consolidated financial statements. Control exists only when an investor has power to direct relevant activities, exposure or rights to variable returns, and the ability to use its power to affect those returns. The standard prescribes assessment of substantive rights (including voting and contractual rights), distinguishes protective rights, addresses potential voting rights, and provides guidance on principal-versus-agent determination, consolidation procedures, non-controlling interests, loss of control accounting, and an investment-entity exemption measured at fair value.
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