IAS31 BV2009 - IAS 31 International Accounting Standard 31...

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IAS 31 International Accounting Standard 31 Interests in Joint Ventures This version includes amendments resulting from IFRSs issued up to 31 December 2008. IAS 31 Financial Reporting of Interests in Joint Ventures was issued by the International Accounting Standards Committee in December 1990, and reformatted in 1994. Limited amendments to IAS 31 were made in 1998, 1999 and 2000. In April 2001 the International Accounting Standards Board (IASB) resolved that all Standards and Interpretations issued under previous Constitutions continued to be applicable unless and until they were amended or withdrawn. In December 2003 the IASB issued a revised IAS 31 with a new title— Interests in Joint Ventures . Since then, IAS 31 and its accompanying documents have been amended by the following IFRSs: IFRS 3 Business Combinations (issued March 2004) IFRS 5 Non-current Assets Held for Sale and Discontinued Operations (issued March 2004) IAS 27 Consolidated and Separate Financial Statements (as amended in January 2008) 1 Improvements to IFRSs (issued May 2008). 2 IAS 1 Presentation of Financial Statements (as revised in September 2007) 3 amended the terminology used throughout IFRSs, including IAS 31. The following Interpretations refer to IAS 31: SIC-13 Jointly Controlled Entities—Non-Monetary Contributions by Venturers (issued December 1998 and subsequently amended) IFRIC 5 Rights to Interests arising from Decommissioning, Restoration and Environmental Rehabilitation Funds (issued December 2004). 1 effective date 1 July 2009 2 effective date 1 January 2009 3 effective date 1 January 2009 © IASCF 1
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IAS 31 C ONTENTS paragraphs INTRODUCTION IN1–IN10 INTERNATIONAL ACCOUNTING STANDARD 31 INTERESTS IN JOINT VENTURES SCOPE 1–2 DEFINITIONS 3–12 Forms of joint venture 7 Joint control 8 Contractual arrangement 9–12 JOINTLY CONTROLLED OPERATIONS 13–17 JOINTLY CONTROLLED ASSETS 18–23 JOINTLY CONTROLLED ENTITIES 24–47 Financial statements of a venturer 30–45B Proportionate consolidation 30–37 Equity method 38–41 Exceptions to proportionate consolidation and equity method 42–45B Separate financial statements of a venturer 46–47 TRANSACTIONS BETWEEN A VENTURER AND A JOINT VENTURE 48–50 REPORTING INTERESTS IN JOINT VENTURES IN THE FINANCIAL STATEMENTS OF AN INVESTOR 51 OPERATORS OF JOINT VENTURES 52–53 DISCLOSURE 54–57 EFFECTIVE DATE AND TRANSITION 58–58B WITHDRAWAL OF IAS 31 (REVISED 2000) 59 APPENDIX Amendments to other pronouncements APPROVAL BY THE BOARD OF IAS 31 ISSUED IN DECEMBER 2003 BASIS FOR CONCLUSIONS 2 © IASCF
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IAS 31 International Accounting Standard 31 Interests in Joint Ventures (IAS 31) is set out in paragraphs 1–59 and the Appendix. All the paragraphs have equal authority but retain the IASC format of the Standard when it was adopted by the IASB. IAS
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IAS31 BV2009 - IAS 31 International Accounting Standard 31...

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