Joint control
Financial reporting.
The contractually agreed sharing of control of an arrangement, which exists only when decisions about the relevant activities require the unanimous consent of the parties sharing control.
Joint operation
Financial reporting.
A joint arrangement whereby the parties that have joint control of the arrangement have rights to the assets, and obligations for the liabilities, relating to the arrangement.
See also
Joint arrangement
Financial reporting.
An arrangement of which two or more parties have joint control.
See also
Joint venture
1.
(JV).
A contractual arrangement where two or more parties undertake an economic activity which is subject to joint control.
2. Financial reporting.
A joint arrangement whereby the parties that have joint control of the arrangement have rights to the net assets of the arrangement.
See also
