Joint arrangements are common in the mining and metals sector, and hence any changes in the accounting for them can have wide-ranging implications, notes EY. In its August 2014 report titled: “Potential implications of the amendments to IFRS 11 Joint Arrangements,” EY reports that IFRS 11 provides guidance on most of the accounting for joint operations, but there are certain issues it doesn’t address. IFRS 11: Greater clarity needed According to the EY report, the amendment applies to the acquisition of an interest in an existing joint operation that is a business or on the formation of a joint operation when an…
IFRS 11 Amendment To Impact Mining & Metal Entities
Mani
Mani is a Senior Financial Consultant. He has worked in Senior Management role in large banking, financial and information technology organizations. He has provided solutions for major banking and securities firms across the globe in the area of retail, corporate and investment banking. He holds MBA (Finance) and Professional Management Accounting Qualifications. His hobbies are tracking global financial developments and watching sports