Responses requested to joint venture survey by 28 July 2004

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15 Jul 2004

The FASB website reports that the International Accounting Standards Board is conducting a research project that is the first phase of a longer-term effort to improve IAS 31 Interests in Joint Ventures.

The Australian Accounting Standards Board is leading a team of standard setters from Hong Kong, Malaysia, and New Zealand that are conducting the research project. As a first step in the research, a joint venture questionnaire was developed as a way of identifying the various structures of joint arrangements used worldwide. In some cases where two or more parties invest in an undertaking together, these arrangements have the characteristics of, and are classified under IFRSs as, joint ventures. In other cases, they are classified under IFRSs as investments in associates. Under US GAAP, these types of investments are generally classified as equity-method investments, although some may be variable interest entities. The survey is intended to elicit information on these types of investments regardless of how they are currently accounted for. The questionnaire can best be answered Online or by printing a hard copy of the Joint Ventures Survey (PDF 199k). The information provided through this questionnaire will be used for research purposes only and will be treated confidentially. Responses are requested by 28 July 2004.

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