what are the key differences between joint venture and joint operation?
in case of joint operations we take our share of assets,liabilities,cost and receipts and than recognise it in our statement of profit and loss.in case of joint venture we take share of net assets. i hope its helpfull.
Thanks bilal for ur speedy response
Yes, Bilal is correct and jointly held assets are treated in the same way as joint operations – each individual venturer deals with their respective involvement within their own accounting records.
Only for a joint venture is the equity method applied whereby we treat the venture in the same way as we would an associate
You must be logged in to reply to this topic.