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Wednesday 30 July 2014

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Accounting for Acquisitions of Interests in Joint Operations

Acquisition of an Interest in a Joint Operation


 Narrow-scope amendments

IFRS 11 Joint Arrangements: Accounting for Acquisitions of Interests in Joint Operations

The objective was to add new guidance to IFRS 11 Joint Arrangements on the accounting for the acquisition of an interest in a joint operation that constitutes a business. The IASB decided that acquirers of such interests shall apply all of the principles on business combinations accounting in IFRS 3 Business Combinations, and other IFRSs, that do not conflict with the guidance in IFRS 11 and disclose the information that is required in those IFRSs in relation to business combinations.

Project stages

Issued documents

Stage completed: Exposure Draft published 13 December 2012

Deliberations

Stage completed: (Final) Amendments to IFRS 11 issued 6 May 2014