IFRS 11Chapter 4Lesson 1
Accounting for a joint operation: line by line, under the applicable IFRSs
Step 1 of 8Learning objectives
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The joint operator recognises its assets, liabilities, revenue and expenses, including its share of those held or incurred jointly, each under its own IFRS.
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Learning objectives
- Identify the five items that the joint operator recognises and calculate its share of each.
- Record the share of an asset, a liability, an expense and revenue of a joint operation.
- Determine the standard applicable to each item and justify the treatment by that standard.
- Determine whether a party without joint control accounts for its interest under the joint operator rule.