IFRS 11

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2020 Updated list of international financial reporting standards (IFRS)

The following is the list of international financial reporting standards:

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Difference between joint operation and joint venture.

IFRS 11 describes two types of joint arrangements and specifies the accounting requirement for each. The two types of the joint arrangement identified by IFRS 11 are joint operation and joint venture

A joint arrangement is a contractual arrangement whereby two or more parties undertake an economic activity that is subject to joint control. There must be a contractual agreement … Read the rest