CTHRepealedLegislation
AASB 131 - Interests in Joint Ventures - July 2004
Operators of Joint VenturesOperators of Joint Ventures
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Operators of Joint Ventures
52 Operators or managers of a joint venture shall account for any fees in accordance with AASB 118 Revenue.
53 One or more venturers may act as the operator or manager of a joint venture. Operators are usually paid a management fee for such duties. The fees are accounted for by the joint venture as an expense.