Document ID: chunk:federal_register_of_legislation:F2021C00954:body:0:p16
Version: federal_register_of_legislation:F2021C00954
Segment Type: other
Provision Reference: 
Character Range: 40630–43567

impracticable or cause undue cost.
 In that case, the entity shall disclose the basis on which the summarised financial information has been prepared.
B16 An entity shall disclose, in aggregate, the carrying amount of its interests in all individually immaterial joint ventures or associates that are accounted for using the equity method. An entity shall also disclose separately the aggregate amount of its share of those joint ventures' or associates':
(a) profit or loss from continuing operations.
(b) post-tax profit or loss from discontinued operations.
(c) other comprehensive income.
(d) total comprehensive income.
 An entity provides the disclosures separately for joint ventures and associates.
B17 When an entity's interest in a subsidiary, a joint venture or an associate (or a portion of its interest in a joint venture or an associate) is classified (or included in a disposal group that is classified) as held for sale in accordance with AASB 5, the entity is not required to disclose summarised financial information for that subsidiary, joint venture or associate in accordance with paragraphs B10–B16.

Commitments for joint ventures (paragraph 23(a))
B18 An entity shall disclose total commitments it has made but not recognised at the reporting date (including its share of commitments made jointly with other investors with joint control of a joint venture) relating to its interests in joint ventures. Commitments are those that may give rise to a future outflow of cash or other resources.
B19 Unrecognised commitments that may give rise to a future outflow of cash or other resources include:
(a) unrecognised commitments to contribute funding or resources as a result of, for example:
(i) the constitution or acquisition agreements of a joint venture (that, for example, require an entity to contribute funds over a specific period).
(ii) capital-intensive projects undertaken by a joint venture.
(iii) unconditional purchase obligations, comprising procurement of equipment, inventory or services that an entity is committed to purchasing from, or on behalf of, a joint venture.
(iv) unrecognised commitments to provide loans or other financial support to a joint venture.
(v) unrecognised commitments to contribute resources to a joint venture, such as assets or services.
(vi) other non-cancellable unrecognised commitments relating to a joint venture.
(b) unrecognised commitments to acquire another party's ownership interest (or a portion of that ownership interest) in a joint venture if a particular event occurs or does not occur in the future.
B20 The requirements and examples in paragraphs B18 and B19 illustrate some of the types of disclosure required by paragraph 18 of AASB 124 Related Party Disclosures.

Interests in unconsolidated structured entities (paragraphs 24–31)

Structured entities
B21 A structured entity is an entity that has been designed so that voting or similar rights are not