Page 3 - Finac II - Joint Arranagements
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JOINT ARRANGEMENTS




            Introduction




            • An entity applies IFRS 11 to determine the type of


                joint arrangement in which it is involved.


            • A joint arrangement is an agreement of which two


                or more parties have joint control.


            • A            joint             arrangement                          has             the            following


                characteristics (IFRS 11.5):


                    • The parties are bound by a contractual arrangement.

                    • The contractual arrangement gives two or more of those

                       parties joint control of the arrangement.


            • A joint arrangement is classified as either a joint


                operation or a joint venture.






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