Most recently, at its meeting on March 21, 2014, the IASB considered whether it should amend paragraph 31 of IAS 28. That paragraph specifies how an entity recognizes a gain when an investor contributes an asset to its associate or joint venture in exchange for both equity and other assets. The IASB decided (i) to propose to amend paragraph 31 of IAS 28 so that the portion of the gain or loss relating to the assets received in exchange for the contribution of an asset should be recognized only to the extent of unrelated investors’ interests in the associate or joint venture; and (ii) include this amendment in the forthcoming ED on the Elimination of gains arising from “downstream” transactions.

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