Module 2 - Joint Arrangements
Module 2 - Joint Arrangements
JOINT ARRANGEMENTS
INTRODUCTION
PFRS 11 defines Joint Arrangement as an arrangement where two or more persons have joint control. In
this module, you will learn about the types of Joint Arrangement, the difference of those types and the
accounting for such transactions. For this module, the relevant standards are PFRS 11 Joint Arrangements,
PAS 28 Investments in Associates and Joint Ventures and Section 15 of the PFRS for SMEs.
LEARNING OUTCOMES
At the end of the module, you should be able to:
5. Define a joint arrangement and state its characteristics.
6. Differentiate between a joint operation and a joint venture.
7. Account for joint operations.
8. Describe the accounting requirements for joint ventures
Concept-building
Read the concepts and study the illustrative cases about Joint Arrangements and how to
determine its type on pages 195- 204 of your textbook.
Concept-review
To validate your understanding of the concepts learned from reading activity, answer the
following:
True or False exercise on page 235
Multiple-choice Theory on pages 236-238
Refer to the learning activities below to have a better understanding of the topic.
Concept-building
Read the concepts and study the illustrative cases about Joint Operations on pages 205- 230
of your textbook.
Concept-application
To apply the concepts and engage on some simulations on how to account for Joint
Oprerations, do the following:
Solve problem on pages - 238-239
Answer multiple choice - 239-243
Refer to the learning activities below to have a better understanding of the topic.
Concept-building
Read the concepts and study the illustrative cases about Joint Ventures on pages 229- 230 of
your textbook and review your Intermediate Accounting.
Concept-building
Read the relevant provisions of the PFRS for SMEs particularly Section 15 Investment in Joint
Ventures.
Concept-review
To validate your understanding of the concepts learned from reading activity, answer the
following:
Multiple-choice Theory on pages 244-247
Summative assessments form part of your final grade in this course. In this module, these are your quizzes
and submissions of the following:
at least 10 answered items from the concept-review
at least 10 answered items from concept-application (show your solutions)
Submission of more than the minimum numbers will be given extra points.
Major exams are likewise graded. Place and time will be announced.
KEY TAKEAWAYS
For mastery of key concepts on consolidated financial statements, read chapter summary on page 231
of your textbook
REFERENCE
Millan, Z. (2020). Accounting for special transactions (advanced accounting 1). Bandolin
Enterprise