IFRS 11 Joint Arrangements

Hosted by Ernst & Young's Global IFRS Services

In May 2011, the IASB issued IFRS 11 Joint Arrangements, a new standard that addresses accounting for joint arrangements (classified as either joint operations or joint ventures).

Some potential implications of the new standard include:

• The scope of what is considered a joint arrangement may have changed as compared to previous IFRS
• Arrangements that were previously considered jointly controlled entities might now be classified as joint operations; therefore, the accounting for these entities could change
• The legal form of the joint arrangement can still significantly impact the accounting
• Other facts and circumstances, such as restrictions and commitments, can also affect accounting
• Judgement may be required to classify a joint arrangement as either a joint operation or a joint venture.

Our experienced panelists will:

• Explain IFRS 11 and the related disclosure requirements for joint arrangements
• Explore the main differences from current IFRS
• Identify practical implications for your business
• Address frequently asked questions from industries where joint arrangements are most common, such as the construction, real estate and extractive industries.

If joint arrangements are critical to your business, understanding these changes will be crucial. We hope you can join us for this discussion.