May 12, 2014
From the IFRS Institute
By KPMG IFRG Limited | May 12, 2014
In the Headlines 14-07 summarizes a recent IASB amendment, Accounting for Acquisitions of Interests in Joint Operations (Amendments to IFRS 11), which requires an entity that applies IFRS to use business combination accounting for an acquisition of an interest in a joint operation that meets the definition of a business. The amendments are effective prospectively for annual periods beginning on or after January 1, 2016, and early adoption is permitted.