Separate statements: the interest in a joint venture

Learning objectives

• Determine the methods available in the separate financial statements for an interest in a joint venture (cost, IFRS 9 or the equity method, under IAS 27 para. 10).L3

Normative references

• IFRS 11 §26In its separate financial statements, a joint operator or joint venturer accounts for its interest in a joint operation in accordance with paras. 20 to 22, and for its interest in a joint venture in accordance with IAS 27 para. 10, which permits cost, IFRS 9 or the equity method described in IAS 28, the same method being applied to each category of investments.
• IFRS 11 §27In its separate financial statements, a party that participates in a joint arrangement without joint control accounts for its interest in a joint operation in accordance with para. 23, and for its interest in a joint venture in accordance with IFRS 9, or IAS 27 para. 10 if it has significant influence.

Original summaries of the paragraphs (reference register), never a quotation of the standard.

1 question

• In its separate financial statements, how does a joint venturer account for its interest in a joint venture?L3