CERTYNEX IFRS ACADEMY

Which standard does a joint operator apply to account for the assets, liabilities, revenues and expenses relating to its interest in a joint operation?

IFRS 11 itself, which sets the measurement and recognition rules for each item of the joint operation, with no reference to other standards.

IAS 28, by analogy with the equity method applied to interests in entities over which the investor has influence.

A standard that the operator chooses for the whole joint operation and applies uniformly to all the items of its interest.

The IFRSs applicable to each asset, liability, revenue and expense, for example IFRS 15 for revenue.