Global Standards for the world economy

Wednesday 19 December 2018

Banner graphic

IFRS 11 Joint Arrangements—Remeasurement of previously held interest – Obtaining control or joint control of a business that is a joint operation


 Proposed changes – Narrow scope amendments to IFRS Standards

IFRS 3 Business Combinations and IFRS 11 Joint Arrangements—Remeasurement of previously held interest – Obtaining control or joint control of a business that is a joint operation

The International Accounting Standards Board (the Board) published Exposure Draft Definition of a Business and Accounting for Previously Held Interests (the ED).  This project relates to the proposed amendments to IFRS 3 and IFRS 11 included in the ED that clarify how an entity accounts for previously held interest in situations in which it obtains control or joint control of a business that is a joint operation.  See section ‘related projects’ below for a link to other transactions discussed by the IFRS Interpretations Committee (the Committee) and the Board as part of this project.