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Joint Ventures

IASB meeting summaries and observer notes

 IASB June 2009



The Board continued its discussion of responses to ED 9 Joint Arrangements and decided tentatively:

  • to introduce a term such as �investor in a joint arrangement� to designate parties to joint arrangements that do not have joint control in the arrangement. 
  • that an investor in a joint arrangement that is a joint operation should account for its assets, liabilities, revenues and expenses, including its share of any assets, liabilities, revenues and expenses arising from the joint operation. 
  • that an investor in a joint arrangement that is a joint venture should account for its interest in accordance with IAS 39 or, if it has significant influence in the joint venture, in accordance with IAS 28. 
  • that parties with interests in a joint asset should directly recognise their share of the joint asset, classified according to the nature of the asset.

The Board will continue its discussion at future meetings, with the aim of publishing an IFRS in the third quarter of 2009.

Date: 6/18/2009