Deloitte view on IASB’s proposals on acquisitions of interests in joint operations

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Deloitte has submitted its comment letter on the IASB’s proposals in Exposure Draft ED/2012/7 ‘Acquisition of an Interest in a Joint Operation’. We agree that application of the principles of IFRS 3 ‘Business Combinations’ is an appropriate methodology when an acquired joint operation constitutes a business, but support the work of the IFRS Interpretations Committee to produce additional guidance on the meaning and application of the ‘business’ concept.

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