IFRS 11 Joint Arrangements
E453774
IFRS 11 Joint Arrangements is an accounting standard that sets out principles for financial reporting by entities that have interests in joint arrangements, focusing on the rights and obligations arising from joint control.
Statements (48)
| Predicate | Object |
|---|---|
| instanceOf |
Accounting standard
ⓘ
International Financial Reporting Standard ⓘ |
| accompaniedBy | Implementation guidance ⓘ |
| addresses |
Changes in participation in a joint arrangement
ⓘ
Separate financial statements treatment of joint arrangements ⓘ |
| appliesIn | IFRS-reporting jurisdictions worldwide ⓘ |
| appliesTo | All entities that are a party to a joint arrangement ⓘ |
| basisOfConclusionDocument | IFRS 11 Basis for Conclusions NERFINISHED ⓘ |
| clarifies | That joint control exists only when decisions about relevant activities require unanimous consent ⓘ |
| classificationCriterion |
Rights to assets and obligations for liabilities
ⓘ
Rights to the net assets of the arrangement ⓘ |
| classifiesAs |
Joint operation
ⓘ
Joint venture ⓘ |
| defines |
Joint arrangement
ⓘ
Joint operation ⓘ Joint venture ⓘ |
| developedFrom | IFRS project on joint arrangements ⓘ |
| effectiveDate | Annual periods beginning on or after 1 January 2013 ⓘ |
| emphasizes | Substance over form in classification of joint arrangements ⓘ |
| focusesOn |
Joint arrangements
ⓘ
Joint control ⓘ Rights and obligations of parties to a joint arrangement ⓘ |
| governs | Recognition of joint arrangement interests in financial statements ⓘ |
| issuedBy | International Accounting Standards Board NERFINISHED ⓘ |
| language | English (official text) ⓘ |
| measurementBasisForJointVentures | Equity method in accordance with IAS 28 ⓘ |
| objective | To establish principles for financial reporting by entities that have an interest in joint arrangements ⓘ |
| partOf | IFRS Standards NERFINISHED ⓘ |
| prescribesAccountingFor |
Joint operations
ⓘ
Joint ventures ⓘ |
| prohibitsForJointVentures | Proportionate consolidation ⓘ |
| relatedTo |
IAS 28 Investments in Associates and Joint Ventures
NERFINISHED
ⓘ
IFRS 10 Consolidated Financial Statements NERFINISHED ⓘ IFRS 12 Disclosure of Interests in Other Entities NERFINISHED ⓘ |
| replaced | IAS 31 Interests in Joint Ventures NERFINISHED ⓘ |
| requires |
Accounting based on rights and obligations rather than legal form alone
ⓘ
Assessment of the terms of the contractual arrangement ⓘ Consideration of other facts and circumstances ⓘ |
| requiresDisclosureOf |
Information about interests in joint arrangements
ⓘ
Judgements made in determining the type of joint arrangement ⓘ |
| requiresForJointOperations |
Recognition of assets and liabilities relating to the entity’s interest
ⓘ
Recognition of revenue and expenses relating to the entity’s interest ⓘ |
| requiresForJointVentures | Equity method of accounting ⓘ |
| requiresForSeparateFinancialStatements | Accounting for interests in joint ventures in accordance with IAS 27 or local requirements ⓘ |
| scopeIncludes |
Joint arrangements not structured through separate vehicles
ⓘ
Joint arrangements structured through separate vehicles ⓘ |
| supersededStandardOf | Joint ventures accounting under IAS 31 ⓘ |
| transitionRequirements | Retrospective application with certain reliefs ⓘ |
Referenced by (1)
Full triples — surface form annotated when it differs from this entity's canonical label.