UITF 31 ' Exchanges of businesses assets, etc

Kashflow logo
0

Solomon Hare's technical department offers this analysis of UITF 31 dealing with exchanges of assets when entities enter into joint ventures. The original technical circular includes several diagrams which cannot be displayed to best effect within the AccountingWEB database. The full explanation is available as a Word document (128K), or you can review the text summary below.

1 BACKGROUND

Abstract 31 has been introduced to address the situation of entities exchanging businesses for equity. For example, a joint venture may be formed to combine the existing business of one entity with that of another entity. The Abstract notes that this is becoming increasingly common.

Specifically, the Abstract aims to provide guidance on the treatment in consolidated accounts where a repor...

Please Login or Register to read the full article

The full article is available to registered AccountingWEB.co.uk members only. To read the rest of this article you’ll need to login or register. Registration is FREE and allows you to view all content, ask questions, comment and much more.

Share this content

Replies

Please login or register to join the discussion.

There are currently no replies, be the first to post a reply.