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Compiled AASB Standard  AASB 11

Joint Arrangements

This compiled Standard applies to annual periods beginning on or after 1 January 2019. Earlier application is permitted for annual periods beginning on or after 1 January 2014 but before 1 January 2019. It incorporates relevant amendments made up to and including 14 February 2018.
Prepared on 29 March 2019 by the staff of the Australian Accounting Standards Board.
Compilation no. 1
Compilation date:  31 December 2018

Obtaining copies of Accounting Standards
Compiled versions of Standards, original Standards and amending Standards (see Compilation Details) are available on the AASB website: www.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 2019
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 National 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 for commercial purposes outside Australia should be addressed to the IFRS Foundation at www.ifrs.org.

Contents

COMPARISON WITH IFRS 11
ACCOUNTING STANDARD
AASB 11 JOINT ARRANGEMENTS

from paragraph
Objective 1
Meeting the objective 2
Scope 3
Joint arrangements 4
Joint control 7
Types of joint arrangement 14
Financial statements of parties to a joint arrangement
Joint operations 20
Joint ventures 24
Separate financial statements 26
Commencement of the legislative instrument Aus27.1
Withdrawal of AASB pronouncements Aus27.2
Appendices
A Defined terms
B Application guidance
C Effective date, transition and withdrawal of other IFRSs
Illustrative examples
COMPILATION DETAILS
Deleted IFRS 11 Text

available on the AASB website
Introduction to IFRS 11
Basis for conclusions on IFRS 11

Australian Accounting Standard AASB 11 Joint Arrangements (as amended) is set out in paragraphs 1 – Aus27.2 and Appendices A – C.  All the paragraphs have equal authority.  Paragraphs in bold type state the main principles.  Terms defined in Appendix A are in italics the first time they appear in the Standard.  AASB 11 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 of Australian Accounting Standards.  In the absence of explicit guidance, AASB 108 Accounting Policies, Changes in Accounting Estimates and Errors