Accounting Standards and Guidance

FRC Financial Reporting Standards (FRSs)

UK/Irish accounting framework (effective for periods beginning on or after 1 Jan 2015)

FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland

Section 15 Investments in Joint Ventures

Section 15 – Scope of this section

15.1	This section applies to:

investments in joint ventures in:

consolidated financial statements; and

the individual financial statements of a venturer that is not a parent; and

investments in jointly controlled operations and jointly controlled assets in the separate financial statements of a venturer that is a parent.

A venturer that is a parent shall account for interests in jointly controlled entities in its separate financial statements in accordance with paragraphs 9.26 and 9.26A, as appropriate. ^{[AMD 364]}

^{AMD 364}

Amendment

Paragraph 15.1 amended by Amendments to FRS 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland – Triennial review 2017 – Incremental improvements and clarifications (issued December 2017)

Effective date

01/01/2019

Previous text

15.1 This section applies to accounting for joint ventures in consolidated financial statements, for investments in joint ventures in the individual financial statements of a venturer that is not a parent, and for investment in jointly controlled operations and jointly controlled assets in the separate financial statements of a venturer that is a parent. A venturer that is a parent shall account for interests in jointly controlled entities in its separate financial statements in accordance with paragraphs 9.26 and 9.26A, as appropriate.

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