IFRS 11Chapter 3Lesson 1
Classifying the arrangement: rights, obligations and no separate vehicle
Step 1 of 6Learning objectives
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The type of joint arrangement depends on the parties' rights and obligations; without a separate vehicle, the joint arrangement is a joint operation.
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Learning objectives
- Explain that classification depends on the parties' rights and obligations and not on the name of the arrangement.
- Distinguish a joint operation (rights to assets, obligations for liabilities) from a joint venture (rights to net assets).
- Determine that a joint arrangement not structured through a separate vehicle is a joint operation and identify a separate vehicle in a case.