Accounting for Acquisitions of Interests in Joint Operations
The International Accounting Standards Board (IASB) today published amendments to IFRS 11 Joint Arrangements.
IFRS 11 addresses the accounting for interests in joint ventures and joint operations. The amendments published today add new guidance on how to account for the acquisition of an interest in a joint operation that constitutes a business. The amendments specify the appropriate accounting treatment for such acquisitions.
The issue originated from a submission to the IFRS Interpretations Committee. As a result the Interpretations Committee recommended that the IASB should amend IFRS 11.
Subscribers to eIFRS can download Accounting for Acquisitions of Interests in Joint Operations (Amendments to IFRS 11) from eIFRS.
Chris Welsh, Communications Manager, IFRS Foundation
Telephone: +44 (0)20 7246 6495
Michael Stewart, Director of Implementation Activities, IASB
Telephone: +44 (0)20 7246 6922
Thomas Harzheim, Practice Fellow, IASB
Telephone: +44 (0)20 7246 0552