Page 5 - PowerPoint Presentation

JOINT ARRANGEMENTS
Outcomes

• Define a joint arrangement in terms of IFRS 11.

• Define and distinguish between the types of joint arrangements
as follows:

• Joint operations; and

• Joint ventures.

• Account for joint operations by recognising the share of assets,
liabilities, related revenues and expenses in accordance with

relevant IFRSs applicable to the particular assets, liabilities,
revenues and expenses.

• Account for the interest in a joint arrangement in the separate
financial statements of an investor.

• Disclose the required information in accordance with IFRS 12 in
the financial statements of the investor, including the following:

• Significant judgements and assumptions.

• Nature, extent and financial effects of an entity’s interests in
joint arrangements.

• Risks associated with an entity’s interests in joint
arrangements.
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