IFRS 11Chapter 4Lesson 3
The 2019 Committee decisions: operator's liabilities and sale of output
Step 1 of 4Learning objectives
Go deeper+2 deeper insights · +2 calculations · +1 point of attention
Two 2019 decisions of the Interpretations Committee shed light on the joint operator rule: the liabilities for which it is primarily liable and the revenue when the output received differs from its entitlement.
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Learning objectives
- Evaluate which liabilities a joint operator recognises when it is the principal lessee of a lease relating to the operation.
- Evaluate the revenue recognised when the output received differs from the entitlement, applying IFRS 15.