n Without Prejudice - IFRS 11 : accounting for joint arrangements : accounting
|Article Title||IFRS 11 : accounting for joint arrangements : accounting|
|© Publisher:||JetBlue Publishers (Pty) Ltd|
|Publication Date||Aug 2011|
|Pages||38 - 40|
The IASB (International Accounting Standards Board) issued IFRS 11 Joint Arrangements (IFRS 11) during May this year in response to two shortcomings of IAS 31: Interests in Joint Ventures (IAS 31). These were first that only the structure of the arrangement determined the accounting, and, second, when accounting for joint ventures, preparers had a choice of either equity accounting or proportionately consolidating the joint venture.
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