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Final stage

On 6 May 2014, the International Accounting Standards Board issued Accounting for Acquisitions of Interests in Joint Operations (Amendments to IFRS 11). The amendments have an effective date of 1 January 2016.

About the project

The objective was to add new guidance to IFRS 11 Joint Arrangements on the accounting for the acquisition of an interest in a joint operation that constitutes a business.

The IASB decided that acquirers of such interests shall apply all of the principles on business combinations accounting in IFRS 3 Business Combinations, and other IFRSs, that do not conflict with the guidance in IFRS 11 and disclose the information that is required in those IFRSs in relation to business combinations.