The European position on accounting for joint ventures Online publication date: Sun, 22-Mar-2009
by Adriana Tiron-Tudor, Victor-Octavian Muller
International Journal of Liability and Scientific Enquiry (IJLSE), Vol. 2, No. 2, 2009
Abstract: This paper analyses the European response to the changes proposed by the International Accounting Standards Board (IASB) regarding accounting for joint ventures, which have to be placed within the context of the short-term International Financial Reporting Standards (IFRSs)–US General Accounting Principles (GAAP) convergence project. This study makes a comparative qualitative analysis of the appropriate technical literature and discusses the relevant legislation in the field of consolidations and the IASB's recently published Exposure Draft on Joint Arrangements (ED 9). The authors conducted a quantitative and qualitative analysis of the reactions to the ED based on the comment letters received by the IASB. The objective of this study is to highlight the implications of the proposed changes to accounting for joint ventures on consolidated financial reporting from the viewpoint of different categories of organisations.
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