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Details

  • Service: Audit, Audit, Audit & Financial Reporting, Topics, IFRS
  • Industry: Building, Construction & Real Estate
  • Type: Business and industry issue
  • Date: 12/5/2011

First Impressions: Joint arrangements 

Our First Impressions explains how the new joint arrangements standard (IFRS 11) works.  We discuss its implications for business and highlight areas of ambiguity.
First Impressions: Joint arrangements
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Examples show its effects in practice. The new standard removes entities’ ability to choose between the equity method and proportionate consolidation. In terms of the industries facing a potential change in accounting policy as a result of the new requirements, our surveys reveal that proportionate consolidation is widely used across all industries. We expect that many, although not all, companies currently using proportionate consolidation will be required to change to equity accounting.
 

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