IFRS 11Chapter 2Lesson 1
Joint control: contractual sharing and unanimity
Step 1 of 6Learning objectives
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Joint control is a sharing of control agreed by contract, which requires the unanimity of the parties on the relevant activities; it is assessed in two steps, collective control first.
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Learning objectives
- Explain that joint control requires the unanimous consent of the parties sharing control for the relevant decisions.
- Determine, from an arrangement's decision rules, whether unanimity is required.
- Distinguish collective control from the unanimity of the parties that collectively control, and apply them in order.