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SIC-3 — Elimination of Unrealised Profits and Losses on Transactions with Associates


  • IAS 28 Investments in Associates


  • Issued December 1997.
  • Effective date: Periods beginning on or after 1 June 1998.
  • Superseded by IAS 28 Investments in Associates (Revised 2003), effective for annual periods beginning on or after 1 January 2005.

Summary of SIC-3

Under IAS 28.16, unrealised gains and losses resulting from transactions with associates should be eliminated proportionately. This is consistent with the application of the equity method for joint ventures as required by IAS 31.39 and .40.

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.