• Service: Audit, IFRS
  • Type: Business and industry issue
  • Date: 5/7/2014

Business combination accounting for interests in a joint operation (2014/07) 

There has long been a question, particularly in the energy and natural resources sector, over whether IFRS 3 Business Combinations applies when an entity acquires an interest in a joint operation that meets that standard’s definition of a business. In response to the diversity in practice, on 6 May 2014 the IASB issued Accounting for Acquisitions of Interests in Joint Operations (Amendments to IFRS 11).
cover image
Download Now
PDF files require Adobe Reader to view
Related link:


    To receive alerts of In the Headlines, please register to the site.

© 2015 KPMG IFRG Limited is a UK company, limited by guarantee. All rights reserved. KPMG IFRG Limited, registered in England No 5253019. Registered office: 15 Canada Square, London, E14 5GL

IFRS Publications and news - IFRS publications and news – To receive information on the latest IFRS issues including GAAP comparisons, line of business, illustrative financial statements, comment letters and latest developments on Leases, Revenue and Financial Instruments 

Share this

Share this