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IAS 28

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › IAS 28

  • This topic has 1 reply, 2 voices, and was last updated 2 years ago by Stephen Widberg.
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  • September 4, 2022 at 10:42 pm #665173
    oslisaim
    Participant
    • Topics: 6
    • Replies: 0
    • ☆

    Hi, I need help understanding the following statement: IAS 28 Investments in Associates
    and Joint Ventures do require that gains and losses arising between a parent entity
    and its joint venture should only be recognized to the extent of the unrelated investors’
    interest in the joint venture

    normally entity share of associate will be considered for unrealized profits when selling or buying inventory, but what will be the case if the entity transfers a building in exchange for a share of equity interest in a joint venture or associate and there’s an unrealized loss or profit on it, kindly explain with an example if possible with uneven holdings, ill be extremely grateful.

    September 5, 2022 at 1:42 pm #665224
    Stephen Widberg
    Keymaster
    • Topics: 16
    • Replies: 3411
    • ☆☆☆☆☆

    Use same principle as with profit on sale to associate,, You don’t really need any more detail for this exam.

    If you are thinking outside the exam, following link may be useful, but no promises!

    https://ifrscommunity.com/knowledge-base/equity-method/#:~:text=Fortunately%2C%20IAS%2028%20is%20more%20specific%20when%20it,has%2020%25%20interest%20in%20Company%20A%2C%20its%20associate.

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