Effective date of IFRS 11 amendments
Accounting for Acquisitions of Interests in Joint Operations (Amendments to IFRS 11) was issued on 6 May 2014. The amendments clarify that the acquirer of an interest in a joint operation in which the activity constitutes a business, as defined in IFRS 3, is required to apply all of the principles on business combinations accounting in IFRS 3 and other IFRSs with the exception of those principles that conflict with the guidance in IFRS 11.
The amendments are applicable to annual periods beginning on or after 1 January 2016.