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Thursday 21 August 2014

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Joint ventures

IASB meeting summaries and observer notes


 IASB July 2012


 

The IASB discussed how an investor should account for its share of the changes in the net assets of the associate that are not recognised in profit or loss or other comprehensive income of the associate (ie, "other net asset changes").

The IASB tentatively decided that an investor should account for the other net asset changes in the investor's equity.

The IASB decided that:

  • It would issue a separate exposure draft to amend IAS 28. No additional amendment to IFRSĀ 1 First-time Adoption of International Financial Reporting is required.
  • The amendments should apply retrospectively.
  • The comment period should be no less than 120 days.

Fourteen Board members agreed.

Date: 7/18/2012