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Wednesday 17 September 2014

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Joint Ventures

IASB meeting summaries and observer notes


 IASB May 2009


 

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

  • to replace the term �shared decision-making� by �joint control� for all types of joint arrangement.
  • to merge �joint operations� and �joint assets� into a single type of joint arrangement called �joint operation�.
  • that, for a joint arrangement established in a separate entity, it is necessary to consider all relevant facts and circumstances to assess whether the arrangement is a joint operation or a joint venture. There should not be a rebuttable presumption that the arrangement is a joint venture.


The Board also had a preliminary discussion about how participants in a joint arrangement should account for their interest in the arrangement if they do not have joint control. The Board reached no decisions on this issue.

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

Date: 5/20/2009