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Ifrs 11 Joint Arrangements

In: Business and Management

Submitted By ATGSA
Words 4647
Pages 19
IFRS 11: Joint Arrangements

Contents
I: Objectives and references 1
IA: Outcomes 2
IB: References 3
2: How to distinguish between jointly controlled operations and ventures 5
Structure of the arrangement 6
Legal forms 6
Contractual arrangements 7
Other information 7
3: How to account for a joint operation 8
4: How to account for a joint venture 13
5: Disclosure 16
6: Case Study: Group Five 16

I: Objectives and references

Objectives

When you have completed studying the material provided in these notes together with IFRS 11 and you have completed the set tutorials without referring to the solutions you should be able to meet the following outcomes. These outcomes and competencies must be read in conjunction with the analysis of core and financial reporting competencies presented in the course Introduction.

The following key is used to identify the professional competencies that are used to develop the outcomes listed below.

|IC1 |obtains information |
|IC4 |communicates effectively and efficiently |
|IC2-2 |performs calculations |
|IC2-4 to IC2-6 |evaluates information and ideas |

| |Outcome |Financial Reporting Competency |Professional |Focus |Tut |
| | | |Competency | | |
|3. |Explain how each type of joint arrangement |Accounts for the entity’s routine transactions. |IC1 & |H |JV-Q1 |
| |would be accounted for, explaining the |Accounts for the entity’s non-routine transactions.

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