Vous êtes sur la page 1sur 5

Financial reporting of interest in joint venture

ACCOUNTING STANDARD 27

intruduction
It comes into effect on 01\04\2002 Its mandatory in nature

Scope
It should be applied for financial statement

of joint ventures (assets and liabilities of joint venture) Consolidated financial statement prepared by the venturer

Defination
Joint venture: it means
a contractual arrangement whereby 2 or more parties undertake an economic activities, which is subject to joint control

Forms of joint venture


Jointly controlled operation Jointly controlled assets Jointly controlled entities

Disclosure
A venturer should disclose the aggregate amount of the contingent liabilities,unless the

probability of loss is remote,seperately from the amount of other contingent liabilities. A venturer should disclose the aggregate amount of the commitments in respect of its interests in joint ventures seperately from other commitments A venturer should disclose a list of all joint ventures and discription of interest in significant in joint ventures.