IFRS® Standards

Acquisition of an Interest in a Joint Operation (Amend IFRS 11)

Summary

The Accounting Standards Board (AcSB) is participating in the International Accounting Standards Board’s (IASB) project to amend IFRS 11 Joint Arrangements relating to the acquisition of an interest in a joint operation that constitutes a business.

Staff Contact(s)

Grace Lang, CPA, CA, CPA (Illinois)

Principal, Accounting Standards Board

Meeting & event summaries


News


May 9, 2014

News

Final Amendments – Acquisition of an Interest in a Joint Operation

May 9, 2014. The IASB has issued narrow-scope amendments to IFRS 11 Joint Arrangements to add new guidance on how to account for the acquisition of an interest in a joint operation that constitutes a business.  The amendments are effective for annual periods beginning on or after January 1, 2016.

April 9, 2013

News

Response to the IASB – Acquisition of an Interest in a Joint Operation (Proposed amendment to IFRS 11)

On April 9, 2013, the AcSB submitted a comment letter to the IASB’s Exposure Draft issued in December 2012. The letter supports the proposal that a joint operator should account for the acquisition of an interest in a joint operation, in which the activity of the joint operation constitutes a business by applying IFRS 3 Business Combinations and other IFRSs, and disclose the relevant information specified in those IFRSs for business combinations. Read the AcSB letter posted by the IASB.

January 29, 2013

News

AcSB Exposure Draft – Acquisition of an Interest in a Joint Operation (Proposed amendment to IFRS 11)

January 29, 2013.  The AcSB has issued an Exposure Draft that corresponds to the IASB’s Exposure Draft on this topic. Canadian stakeholders are encouraged to submit their comments, on the form provided, by April 23, 2013.

December 17, 2012

News

Exposure Draft – Acquisition of an Interest in a Joint Operation (Proposed amendment to IFRS 11)

December 17, 2012. The IASB has issued an Exposure Draft proposing an amendment to IFRS 11 Joint Arrangements. Canadian stakeholders are encouraged to submit their comments to the IASB by April 23, 2013.

Disclaimer

This project summary has been prepared for information purposes only. Decisions reported are tentative and reflect only the current status of discussions on this project, which may change after further Board deliberations. Decisions to publish Handbook material are final only after a formal ballot process.