AASB 12 - Disclosure of Interests in Other Entities - August 2011
Risks associated with an entity’s intereRisks associated with an entity’s interests in joint ventures and associates
Start here
Get a plain-English read of Risks associated with an entity’s intere
Turn the raw legal text into a practical explanation grounded in AASB 12 - Disclosure of Interests in Other Entities - August 2011.
Risks associated with an entity’s interests in joint ventures and associates
23 An entity shall disclose:
(a) commitments that it has relating to its joint ventures separately from the amount of other commitments as specified in paragraphs B18–B20.
(b) in accordance with AASB 137 Provisions, Contingent Liabilities and Contingent Assets, unless the probability of loss is remote, contingent liabilities incurred relating to its interests in joint ventures or associates (including its share of contingent liabilities incurred jointly with other investors with joint control of, or significant influence over, the joint ventures or associates), separately from the amount of other contingent liabilities.