Document ID: chunk:federal_register_of_legislation:F2019C00335:body:0:p35
Version: federal_register_of_legislation:F2019C00335
Segment Type: other
Provision Reference: 
Character Range: 94632–97575

Operation Z as part of joining Joint Operation Z as a joint operator. However, Company C retains control of this right because it is entitled to withdraw the right to use its know-how in processing Material M and to withdraw its seconded employees without any restrictions or any compensation to Companies A and B or Joint Operation Z if it ceases its participation in Joint Operation Z.
IE73 Consequently, Company C continues to recognise the know-how in processing Material M after the acquisition of the interest in Joint Operation Z because it retains all the rights to it. This means that Company C will continue to recognise the know-how based on its carrying amount of CU300. As a consequence of retaining control of the right to use the know-how that it granted to the joint operation, Company C has granted the right to use the know-how to itself. Consequently, Company C does not remeasure the know-how, and it does not recognise a gain or loss on the grant of the right to use it.

Compilation details
Accounting Standard AASB 11 Joint Arrangements (as amended)
Compilation details are not part of AASB 11.
This compiled Standard applies to annual periods beginning on or after 1 January 2019.  It takes into account amendments up to and including 14 February 2018 and was prepared on 29 March 2019 by the staff of the Australian Accounting Standards Board (AASB).
This compilation is not a separate Accounting Standard made by the AASB.  Instead, it is a representation of AASB 11 (July 2015) as amended by other Accounting Standards, which are listed in the Table below.

Table of Standards
Standard     Date made     FRL identifier  Commence-ment date  Effective date          Application, saving or transitional provisions
                                                               (annual periods
                                                               … on or after …)
AASB 11      24 July 2015  F2015L01627     31 Dec 2015         (beginning) 1 Jan 2016  see (a) below
AASB 2018-1  14 Feb 2018   F2018L00157     31 Dec 2018         (beginning) 1 Jan 2019  see (b) below

   (a)           Entities may elect to apply this Standard to periods beginning on or after 1 January 2014 but before 1 January 2016.

   (b)           Entities may elect to apply this Standard to annual periods beginning before 1 January 2019.

Table of amendments
Paragraph affected  How affected  By … [paragraph/page]
 B33CA              added         AASB 2018-1 [page 6]
 C1AB               added         AASB 2018-1 [page 6]

Deleted IFRS 11 text
Deleted IFRS 11 text is not part of AASB 11.
C1A Consolidated Financial Statements, Joint Arrangements and Disclosure of Interests in Other Entities: Transition Guidance (Amendments to IFRS 10, IFRS 11 and IFRS 12), issued in June 2012, amended paragraphs C2–C5, C7–C10 and C12 and added paragraphs C1B and C12A–C12B. An entity shall apply those amendments for annual periods beginning