CONTENTS

COMPILATION DETAILS

Comparison with IAS 28

INTRODUCTION TO IAS 28
(available on the AASB website)

Accounting Standard

AASB 128 Investments in Associates and Joint Ventures

Paragraphs

Objective 1

Application Aus1.1 – Aus1.5

Scope 2

Definitions 3 – 4

Significant influence 5 – 9

Equity method 10 – 15

Application of the equity method 16

Exemptions from applying the equity method 17 – 19

Classification as held for sale 20 – 21

Discontinuing the use of the equity method 22 – 24

Changes in ownership interest 25

Equity method procedures 26 – 39

Impairment losses 40 – 43

Separate financial statements 44

Effective date and transition 45A – 45D

References to AASB 9 46

DELETED IAS 28 TEXT Page 15

BASIS FOR CONCLUSIONS ON PARAGRAPH Aus17.1
(see Basis for Conclusions on AASB 2011‑5)

BASIS FOR CONCLUSIONS ON IAS 28
(available on the AASB website)

Australian Accounting Standard AASB 128 Investments in Associates and Joint Ventures (as amended) is set out in paragraphs 1 – 46. All the paragraphs have equal authority. Paragraphs in bold type state the main principles. AASB 128 is to be read in the context of other Australian Accounting Standards, including AASB 1048 Interpretation of Standards, which identifies the Australian Accounting Interpretations. In the absence of explicit guidance, AASB 108 Accounting Policies, Changes in Accounting Estimates and Errors provides a basis for selecting and applying accounting policies.