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Disclosure of Joint Ventures and Associates in Financial Statement under IFRS

Author

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  • Petra Ašenbrenerová

Abstract

This article deals with disclosure of associates and joint venture in financial statement. In May 2011 the IASB issued new standard IFRS 12 Disclosure of interest in other entities. This standard, compared with IAS 28 and IAS 31, requires to disclose more detail information about joint ventures and associates. The reason is elimination of proportionate consolidation for joint ventures and also users of financial statements requested improvements to the disclosure of a reporting entity's interests in other entities. The introductory section discusses the equity method and proportionate consolidation, which is followed by a chapter dealing with the disclosure of information relating to joint ventures and associates in the financial statements. The last part is devoted to an analysis of disclosed information relating to joint ventures associates in the financial statements of companies that are listed on the Prague Stock Exchange.

Suggested Citation

  • Petra Ašenbrenerová, 2016. "Disclosure of Joint Ventures and Associates in Financial Statement under IFRS," European Financial and Accounting Journal, Prague University of Economics and Business, vol. 2016(3), pages 85-94.
    • Handle: RePEc:prg:jnlefa:v:2016:y:2016:i:3:id:164:p:85-94
    DOI: 10.18267/j.efaj.164
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    References listed on IDEAS

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    1. Lim, Chee Yeow & Yeo, Gillian H. H. & Liu, Chao-Shin, 2003. "Information asymmetry and accounting disclosures for joint ventures," The International Journal of Accounting, Elsevier, vol. 38(1), pages 23-39.
    2. Kothavala, Kazbi, 2003. "Proportional consolidation versus the equity method: A risk measurement perspective on reporting interests in joint ventures," Journal of Accounting and Public Policy, Elsevier, vol. 22(6), pages 517-538.
    3. Chiara Saccon & Åžtefana Maria Dima, 2015. "Financial reporting for joint ventures and capital markets reactions," International Journal of Economics and Business Research, Inderscience Enterprises Ltd, vol. 9(2), pages 158-169.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Associates; Financial Statement; IFRS 12; Joint Ventures;
    All these keywords.

    JEL classification:

    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting

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