IAS 28 Associate Companies and Joint Ventures Example 1

View all free ACCA lectures >> This P2 lecture is based on OpenTuition course notes, view or download here>>

[jwplayer file=”mp4:vod/acca.opentuitioncom/p2/P2d1p3c.mp4″ streamer=”rtmp://r.acca.opentuitioncom.netdna-cdn.com/play” provider=”rtmp” image=”http://opentuition.com/acca_lectures.jpg” html5_file=”http://d.acca.opentuitioncom.netdna-cdn.com/play/_definst_/mp4:vod/acca.opentuitioncom/p2/P2d1p3c.mp4/playlist.m3u8″]


  1. avatar says

    This is best revision course available I have come across.
    Owing to time constraint and work commitment, I need your guide and sincerely wish you well prepared.

    Any body could you please help me if you will kindly send me the Mock Exam Q & A for December, 2012 P2 Exam.
    I am on long and far works assignment in China and need your instant help, expecially chat forums and reports i need to update preparing for this coming exam.

    Thankyou very much.

  2. avatar says

    Mike I have an issue or two between how you explain it and what the answer at the back of the notes shows. Although the video stopped you do still explain the figures you use and where they go but I found two differences:

    1. Saulius : Expenses use the entire 3,000 figure not apportioned in the book answer

    2. The tax is the opposite apportionment for Saulius is not included in book answer its just 5,000

    Are both methods correct, they come to the same figure but it seems to be a case of apportioning when you think you need to rather than following a set method. Both scenarios apportion on one occasion but not in the other. Please help

    • Profile photo of MikeLittle says

      @hamzahmoazzam, Have I not updated the Joint Venture lecture? I’m sorry. Thankfully it’s only a tiny part of P2 and so rarely comes up in the exam. The changes you refer to are that, when accounting for a joint venture, the investor MUST apply equity accounting – proportional consolidation is no longer an option.

  3. Profile photo of Saad Bin Aziz says

    june’s coming closer and closer, these lectures have always helped us immensely but this ias 28 issue relating to jv has terribly confused us, kindly look into it mike/admin….
    Any help in this regard would be highly appreciated!

    • Profile photo of terrygeez says

      @Saad Bin Aziz, I’m a little confused too. Does the comment from Mike way down below mean we treat Saulius like Alex i.e. a single line showing our share of the PAT of Saulius added to Danuta’s PBT in their ConSOCI? How I love acronyms.

  4. Profile photo of Saad Bin Aziz says

    Dear Mike ,
    After reading the comments below i am confused terribly as to whether this lecture is still valid? i mean are we not supposed to consolidate revenues and all? and only do it like associate accounting?
    And yes , the video blanks out after 28th min,…..

Leave a Reply