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Exposure Draft [December 2012]

Exposure Draft [December 2012]

 Acquisition of an Interest in a Joint Operation (Proposed amendment to IFRS 11) - Exposure Draft and Comment letters

On 13 December 2012 the International Accounting Standards Board (IASB) published for public comment an Exposure Draft of a proposed narrow-scope amendment to IFRS 11 Joint Arrangements.

IFRS 11 does not give explicit guidance on the accounting for acquisitions of interests in joint operations.  The objective of the proposed amendment is to add new guidance to IFRS 11 on accounting for the acquisition of an interest in a joint operation in which the activity of the joint operation constitutes a business, as defined in IFRS 3 Business Combinations.

The IASB proposes that acquirers of such interests shall apply the relevant principles on business combination accounting in IFRS 3 and other Standards, and disclose the relevant information specified in these Standards for business combinations.

The issue originated from a submission to the IFRS Interpretations Committee.  As a result, the Interpretations Committee recommended that the IASB should amend IFRS 11.

Comment letters

The Exposure Draft commenting period closed on 23 April 2013.

Please note: when submitting a comment letter or when communicating with the IFRS Foundation, the IASB or any of its constituent bodies, you acknowledge and accept the IFRS Foundation Written Communication policy which details how we use and process your data.

View the comment letters.


Due process documents
Exposure Draft: Acquisition of an Interest in a Joint Operation (Proposed amendment to IFRS 11) [PDF]
公開草案: 共同支配事業に対する持分の取得(IFRS第11号の修正案) (Japanese) [PDF]
Exposé-sondage: Acquisition d’intérêts dans une entreprise commune (projet de modification d’IFRS 11) (French) [PDF]