New UK GAAP 2015: Application of FRS 100-102 in the UK

Chapter 11 Investments in joint ventures

1 Introduction

2 Comparison between Section 15, previous UK GAAP and IFRS

   2.1 Key differences between Section 15 and previous UK GAAP

       2.1.1 Scope and classification

       2.1.2 Accounting for jointly controlled operations and assets

       2.1.3 Measurement – entity that is not a parent

       2.1.4 Investment portfolios / funds

       2.1.5 Accounting for jointly controlled entities

       2.1.6 Implicit goodwill and fair value adjustments

       2.1.7 Losses in excess of investment

   2.2 Key differences between Section 15 and IFRS

       2.2.1 Scope and classification

       2.2.2 Measurement – entity that is not a parent

       2.2.3 Investment portfolios / funds

       2.2.4 Accounting for the acquisition of a jointly controlled entity

       2.2.5 Loss of joint control where the jointly controlled entity does not become a subsidiary or associate

3 Requirements of Section 15 for investments in joint ventures

   3.1 Scope

   3.2 Terms used in Section 15

   3.3 Definition of a joint venture and related terms

       3.3.1 ‘Venturer’ versus ‘investor’

       3.3.2 Contractual arrangement

       3.3.3 Joint control and unanimous consent

       3.3.4 Potential voting rights

       3.3.5 Types of joint venture

   3.4 Jointly controlled operations

       3.4.1 Definition

       3.4.2 Accounting requirements for jointly controlled operations

   3.5 Jointly controlled assets

       3.5.1 Definition

       3.5.2 Accounting requirements ...