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Hi there hope you are doing well
Sir i am having a bit difficulty understanding the term equity accounting in respect of joint venture
And the difference between joint ventures and joint operations?Equity – treat as if it is an associate – cost plus % post acq profits.
JO = Bill and Ben jointly own a sausage stuffing machine. = Account for as PPE.
JV = Bill and Ben each own 50% of the shares of a company which owns a sausage stuffing machine. = Equity accounting.
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