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Friday 18 April 2014

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IFRS Interpretations Committee

Business Combinations: Scope exceptions for joint ventures


 Narrow-scope amendments (Annual Improvements)

IFRS 3 Business Combinations: Scope exceptions for joint ventures

The objective of this amendment is to clarify that paragraph 2(a) of IFRS 3 Business Combinations:

  1. excludes the formation of all types of joint arrangements as defined in IFRS 11 Joint Arrangements from the scope of IFRS 3; and
  2. the scope exception only applies to the financial statements of the joint venture or the joint operation itself.
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Project stages

Issued documents

Stage 1: Completed Q4 2012