Understanding Australian Accounting Standards 3E - Loftus - SMch29_sm_loftus

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1、SolutionsManualtoaccompanyUnderstandingAustralianAccountingStandardsJaniceLoftus,KenLeo,RuthPicker,VictoriaWise,KerryClarkByKenLeoJohnWiley&SonsAustralia,Ltd2013SolutionsManualtoUnderstandingAustralianAccountingStandardsChapter29:JointarrangementsCompre

2、hensionquestions1.Whatisajointarrangement?AAASB11states:4.Ajointarrangementisanarrangementofwhichtwoormorepartieshavejointcontrol.5.Ajointarrangementhasthefollowingcharacteristics:(a)Thepartiesareboundbyacontractualarrangement(seeparagraphsB2–B4).(b)The

3、contractualarrangementgivestwoormoreofthosepartiesjointcontrolofthearrangement(seeparagraphs7–13).6.Ajointarrangementiseitherajointoperationorajointventure.2.Howdoesajointarrangementdifferfromanassociate?Anassociateexistswhenaninvestorhassignificantinfl

4、uenceoveranotherentity.Ajointarrangementexistswhenaninvestorhasjointcontroloveranotherentity.Aninvestordoesnotneedtohaveanarrangementwithanotherentityinordertohavesignificantinfluencewhereastohavejointcontroltheremustbetwoormorepartieswhohavejointcontro

5、l.3.Whatismeantbyjointcontrol?128:3Jointcontrolisthecontractuallyagreedsharingofcontrolofanarrangement,whichexistsonlywhendecisionsabouttherelevantactivitiesrequiretheunanimousconsentofthepartiessharingcontrol.Thekeyelementofjointcontrolisthesharingofco

6、ntrol.Inotherwords,theremustbeatleasttwoinvestorswhohavesharedcontroloftheinvestee.4.Howdoesjointcontroldifferfromcontrolasusedinclassifyingsubsidiaries?UnderAASB10:Aninvestorcontrolsaninvesteewhentheinvestorisexposed,orhasrights,tovariablereturnsfromit

7、sinvolvementwiththeinvesteeandhastheabilitytoaffectthosereturnsthroughitspowerovertheinvestee.Therearethreeinvestor-investeerelationshipswhicharebasedondifferentlevelsofcontrol:RelationshipLevelofcontrolParent-subsidiaryDominantcontrolInvestor-associate

8、SignificantinfluenceJointarrangement-investeeJointcontrolWithasubsidiarytherecanbeonlyoneparent.Withjointcontrolthereneedstobeatleast2entitiesthatsharecontrol.©JohnWileyandSonsAustraliaLtd201329.24SolutionsManualtoUnderstandingAu