Accounting standards

Hi,

(1)
Per IFRS 11 Joint Arrangements, for joint operation, in investor’s separate financial statements, show:
1.own asset, liabilities and expenses
2.share of assets held and expenses and liabilities incurred jointly
3.revenue from the sale of its share of the output arising from the joint operation
4.share of revenue from the sale of output by the joint operation itself

What are the differences between 3 and 4?
Is it 3 means revenue generated for own company from the use of resources (don’t have to multiply the percentage of share) and 4 is share of revenue generated from whole company(need to multiple with percentage of share)?

(2)
Per IFRS 9 Financial Instrument
One of the definition for financial asset is has contractual right to exchange financial asset or financial liability under potentially favourable condition, whereas, for financial liability is contractual obligation to exchange financial asset or financial liability under potentially unfavourable condition.

May I know what are potentially favourable condition and potentially unfavourable condition referring to?

Thank you.