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Tuesday 02 September 2014

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Investments in Associates and Joint Ventures: Elimination of intercompany profits between an issuer and its joint venture


 Narrow-scope amendments

IAS 28 Investments in Associates and Joint Ventures: Elimination of gains or losses arising from transactions between an entity and its associate or joint venture

The objective is to clarify the accounting for a ‘downstream’ transaction between an entity and its associate or joint venture when the gain from the transaction exceeds the carrying amount of the entity’s interest in the associate or joint venture.

Project stages

Deliberations

Stage completed: July 2013