Home  Journals  International Accounting  25(319) - 2014 July

Joint activities in the framework of simple partnership agreement in terms of IFRS 11 joint activities

Available online: 5 July 2014

Subject Heading: On the way to international standards

JEL Classification: 

Pages: 2-9

Currently, there is a need to improve the accounting of typical business transactions of the participants of the simple partnership agreement and its qualifications in accordance with international standards. Many companies reporting under international financial reporting standards (IFRS) for foreign investors face the problems of transformation of accounting reporting in the framework of the joint action. At the same time, the qualitative characteristic of the transformation depends on the classification differences between PBU 20/03 "Information on participation in joint activities" and the international financial reporting standards (IFRS) 11 "Joint activity". In view of the problem the article provides the comparative analysis of the main aspects of accounting of an organization regulated in PBU 20/03 and IFRS 11 on the issue of reflection of the facts of economic life within the framework of a simple partnership.

Keywords: joint activities, joint ventures, joint operations, simple partnership

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ISSN 2311-9381 (Online)
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