Global

Details

  • Service: Audit
  • Industry: Financial Services
  • Type: Business and industry issue
  • Date: 5/20/2011

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. 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.
cover image
Download Now
PDF files require Adobe Reader to view

© 2012 KPMG IFRG Limited is a UK company, limited by guarantee. All rights reserved. KPMG IFRG Limited, registered in England No 5253019. Registered office: 8 Salisbury Square, London, EC4Y 8BB