On 13 September 2007 the International Accounting Standards Board (IASB) published for public comment a proposal to improve the accounting for joint arrangements.
The proposals in ED 9 Joint Arrangements would replace IAS 31 Interests in Joint Ventures and represent the first major revision to the standard since it was first issued in 1990.
The review also forms part of the IASB’s short-term project with the US Financial Accounting Standards Board (FASB) to reduce differences between International Financial Reporting Standards (IFRSs) and US generally accepted accounting principles (US GAAP). The proposals are designed to provide users with more information about the operations an entity conducts through joint arrangements—including a description of the nature of joint arrangements and summarised financial information relating to its interests in joint ventures.
The Exposure Draft was open for comment until 11 January 2008.
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Exposure Draft: Joint Arrangements
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Exposé-Sondage: Partenariats
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