285 paragraphs found in AASB 11
After several years, the joint operators (Companies A and B) concluded that it is feasible to develop a battery for electric vehicles using Material M. However, processing Material M requires specialist know-how and thus far, Material M has only been used …
In order to get access to existing know-how in processing Material M, Companies A and B arrange for Company C to join as another joint operator by acquiring an interest in Joint Operation Z from Companies A and B and becoming a party to the contractual …
Company C’s business so far has been solely the development and production of cosmetics. It has long-standing and extensive knowledge in processing Material …
In exchange for its share in Joint Operation Z, Company C pays cash to Companies A and B and grants the right to use its know-how in processing Material M for the purposes of Joint Operation Z. In addition, Company C seconds some of its employees who are …
The fair value of Company C’s know-how on the date of the acquisition of the interest in the joint operation is CU1,000. Immediately before the acquisition, the carrying amount of the know-how in the financial statements of Company C was …
Company C has acquired an interest in Joint Operation Z in which the activity of the joint operation constitutes a business, as defined in …
In accounting for the acquisition of its interest in the joint operation, Company C applies all the principles on business combinations accounting in AASB 3 and other Australian Accounting Standards that do not conflict with the guidance in this Standard …
Company C granted the right to use its know-how in processing Material M to Joint Operation Z as part of joining Joint Operation Z as a joint operator. However, Company C retains control of this right because it is entitled to withdraw the right to use …
Consequently, Company C continues to recognise the know-how in processing Material M after the acquisition of the interest in Joint Operation Z because it retains all the rights to it. This means that Company C will continue to recognise the know-how …
Standard Date made FRL identifier Commence-ment date Effective date(annual periods … on or after …) Application, saving or transitional provisions AASB 24 July 2015 F2015L01627 31 Dec 2015 (beginning) 1 Jan 2016 see (a) below AASB 2018-1 14 Feb 2018 …