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Compiled AASB Standard  AASB 128

Investments in Associates and Joint Ventures

This compiled Standard applies to annual periods beginning on or after 1 January 2025.  Earlier application is permitted for annual periods beginning after 24 July 2014 but before 1 January 2025.  It incorporates relevant amendments made up to and including 7 November 2024.
Prepared on 25 February 2025 by the staff of the Australian Accounting Standards Board.
Compilation no. 8
Compilation date:  31 December 2024

Obtaining copies of Accounting Standards
Compiled versions of Standards, original Standards and amending Standards (see Compilation Details) are available on the AASB website:  aasb.gov.au and standards.aasb.gov.au.
Australian Accounting Standards Board
PO Box 204
Collins Street West
Victoria   8007
AUSTRALIA
Phone: (03) 9617 7600
E-mail: standard@aasb.gov.au
Website: www.aasb.gov.au

Other enquiries
Phone: (03) 9617 7600
E-mail: standard@aasb.gov.au

COPYRIGHT
© Commonwealth of Australia 2025
This compiled AASB Standard contains IFRS Foundation copyright material.  Reproduction within Australia in unaltered form (retaining this notice) is permitted for personal and non-commercial use subject to the inclusion of an acknowledgment of the source.  Requests and enquiries concerning reproduction and rights for commercial purposes within Australia should be addressed to The Managing Director, Australian Accounting Standards Board, PO Box 204, Collins Street West, Victoria 8007.
All existing rights in this material are reserved outside Australia.  Reproduction outside Australia in unaltered form (retaining this notice) is permitted for personal and non-commercial use only.  Further information and requests for authorisation to reproduce IFRS Foundation copyright material for commercial purposes outside Australia should be addressed to the IFRS Foundation at www.ifrs.org.

Contents

COMPARISON WITH IAS 28
ACCOUNTING STANDARD
AASB 128 INVESTMENTS IN ASSOCIATES AND JOINT VENTURES

from paragraph
Objective 1
Scope 2
Definitions 3
Significant influence 5
Equity method 10
Application of the equity method 16
Exemptions from applying the equity method 17
Classification as held for sale 20
Discontinuing the use of the equity method 22
Changes in ownership interest 25
Equity method procedures 26
Impairment losses 40
Separate financial statements 44
Effective date and transition 45
References to AASB 9 46
Withdrawal of IAS 28 (2003)
Commencement of the legislative instrument
Withdrawal of AASB pronouncements Aus47.2
COMPILATION DETAILS
Deleted IAS 28 Text

BASIS FOR CONCLUSIONS ON AASB 2011-5 AND AASB 2011-6
BASIS FOR CONCLUSIONS ON AASB 2015-4

AVailable on the AASB website
Basis for Conclusions on IAS 28

Australian Accounting Standard AASB 128 Investments in Associates and Joint Ventures (as amended) is set out in paragraphs 1 – Aus47.2.  All the paragraphs have equal authority.  Paragraphs in bold type state the main principles.  AASB 128 is to be read in the context of other Australian Accounting Standards, including AASB 1048 Interpretation of Standards, which identifies the Australian Accounting Interpretations, and AASB 1057 Application