IFRS 11 Joint Arrangements issued in May 2011 introduces major changes to the accounting for joint ventures, especially for companies that currently use proportionate consolidation.
A practical how-to-guide is now available to help SAP Financial Consolidation starter kit for IFRS users achieving the transition to IFRS 11. Based on sets of data delivered within the starter kit for IFRS, this document describes the process to be followed for the first application of IFRS 11. IFRS 11 should be applied for annual periods beginning on or after 1 January 2013 (2014 for European Union members).
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