CERTYNEX IFRS ACADEMY

A party without joint control of a joint operation that is a business subsequently obtains joint control of that operation. What happens to the interest it previously held?

It is remeasured to fair value at the date joint control is obtained, as on any acquisition of control of a business.

It is derecognised and then recognised again at cost, obtaining joint control being a new acquisition of assets.

It is not remeasured; remeasurement of a previously held interest belongs to obtaining control of the business, under IFRS 3.

It is remeasured to the higher of its carrying amount and fair value, the difference going to equity.