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AASB 131 - Interests in Joint Ventures - July 2004
Forms of Joint VentureForms of Joint Venture
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Forms of Joint Venture
7 Joint ventures take many different forms and structures. This Standard identifies three broad types—jointly controlled operations, jointly controlled assets and jointly controlled entities—that are commonly described as, and meet the definition of, joint ventures. The following characteristics are common to all joint ventures:
(a) two or more venturers are bound by a contractual arrangement; and
(b) the contractual arrangement establishes joint control.