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Practical guide to IFRSClassification of joint arrangements

国际财务报告准则实务指南合营安排的分类

www.pwc.com/ifrs

January 20132013年1月

English with Chinese Translation中英文对照

普华永道 — 国际财务报告准则实务指南 — 合营安排的分类 1

Contents目录

What is the issue? 2A four-step process 2 Step 1 – Is the joint arrangement structured through a separate vehicle? 4 Step 2 – Does the legal form of the separate vehicle confer upon the parties direct 4 rights to assets and obligations for liabilities relating to the arrangement? Step 3 – Do the contractual terms between the parties confer upon them rights to 6 assets and obligations for liabilities relating to the arrangement? Step 4 – Do ‘other facts and circumstances’ lead to rights to assets and obligations 10 for liabilities being conferred upon the parties to the arrangement?Other considerations 16

问题是什么？ 3

四步流程 3

步骤1—合营安排是否通过一个单独载体构建？ 5

步骤2—该单独载体的法律形式是否将对资产的直接权利和对负债的直接义务 5

授予该安排的参与方？

步骤3—参与方之间的合同安排是否将对资产的直接权利和对负债的直接义务 7

授予该安排的参与方？

步骤4—是否存在“其他事实和情况”导致对资产的直接权利和对负债的直接 11

义务授予该安排的参与方？

其他考虑 17

2 PwC — Practical guide to IFRS — Classification of joint arrangements

What is the issue?The classification of joint activities under IAS 31 seldom created any controversy or even much in the way of discussion. Unincorporated activities were either jointly controlled operations or jointly controlled assets with identical accounting. Anything in a legal entity was ‘jointly controlled entity’, with management able to choose between proportionate consolidation or equity accounting. Hence, there was seldom any pressure on the classification of a joint arrangement. IFRS 11 has changed all that; the policy choice has been abolished and accounting and presentation is determined by the classification of the joint arrangement. The decision on classification will be straight-forward in most cases, but there will be instances where significant analysis and the exercise of judgement is required.

Classification under IFRS 11 is driven by the rights and obligation of the parties arising from the arrangement rather than the legal form of the arrangement. There are now only two types of joint arrangement and two types of accounting; joint venture (equity accounting) and joint operation (direct accounting for assets and liabilities).

Arrangements that were classified as jointly controlled operations and joint controlled assets under IAS 31 will be classified as joint operations under IFRS 11, as explained below. The potential change in classification will arise in respect of joint arrangements conducted in legal entities. A joint arrangement undertaken in a legal entity that creates separation between the parties to the arrangement and the arrangement is most likely to be classified as a joint venture under IFRS 11, but this will not always be the case. There will be some joint arrangements in legal entities that will be classified as joint operations because of the contractual arrangements between the parties or other relevant facts and circumstances.

A four-step processDetermining the classification of joint arrangements can be set out as a four-step process, as shown below.

Joint operation

Joint venture

Is the joint arrangement structured through a separate vehicle?No

Yes

No

No

No

Do other facts and circumstances lead to rights to assets and obligations for liabilities being conferred upon the parties to the arrangement?

Yes

Does the legal form of the separate vehicle confer upon the parties direct rights to assets and obligations for liabilities relating to the arrangement?

Yes

Do the contractual terms between the parties confer upon them rights to assets and obligations for liabilities relating to the arrangement?

Yes


问题是什么？

国际会计准则第31号（“IAS 31”）中合营活动的分类很少产生任何争议甚或是需要诸多讨论。非法人活动是具有相同会计处理的共同控制经营或共同控制资产。法人实体中的任何安排均为“共同控制主体”，且管理层能够在比例合并法与权益法的会计处理之间进行选择。因此很少对合营安排的分类产生任何压力。国际财务报告准则第11号（“IFRS 11”）改变了这一切；对于会计政策的选择权已被取消，且会计处理和列报由合营安排的分类决定。关于分类的决定在大多数情况下将是简单明了的，但是亦存在需要作出重要分析并运用判断的情况。

IFRS 11中的分类将取决于各方因合营安排所产生的权利和义务，而非该安排的法律形式决定。IFRS 11仅存在两种类型的合营安排和两种类型的会计处理：合营企业（采用权益法进行会计处理）和共同经营（直接对资产和负债进行会计处理）。

在IAS 31被分类为共同控制经营和共同控制资产的安排会在IFRS 11被分类为共同经营，具体解释如下。分类的潜在不同将发生于在法律实体中实施的合营安排。在法律实体中进行的合营安排，在合营安排参与方与合营的法律实体之间建立起分隔的合营安排，根据IFRS 11最有可能被分类为合营企业，但情况并非总是如此。由于各方之间的合同安排或其他相关事实和情况，有些法律实体中的合营安排将被分类为共同经营。

四步流程

合营安排分类的确定可以列示为一个四步流程，如下所示。

共同经营

合营企业

合营安排是否通过一个单独载体构建？否

是

否

否

否

该单独载体的法律形式是否将对资产的直接权利和对负债的直接义务授予安排的参与方？

是

参与方之间的合同安排是否将对资产的直接权利和对负债的直接义务授予该安排的参与方？

是

是否存在其他事实和情况导致对资产的直接权利和对负债的直接义务授予该安排的参与方？

是


Step 1 – Is the joint arrangement structured through a separate vehicle?

A separate vehicle is a separately identifiable financial structure, including separate legal entities or entities recognised by statute, regardless of whether those entities have a legal personality.

The most common forms of vehicle used to structure joint arrangements are limited liability companies, partnerships, corporations, associations and trusts. Each of these is a separately identifiable financial structure, having separately identifiable assets, liabilities, revenues, expenses, financial arrangements and financial records, and would be a separate vehicle.

The definition of a ‘separate vehicle’ in the standard is, however, quite broad. The separate vehicle does not necessarily need to have a legal personality. A contractual arrangement between two parties may also create a separate vehicle, although this is expected to occur infrequently.

Local laws and regulations should be considered before determining whether a particular structure meets the definition of a ‘separate vehicle’.

Joint arrangements not structured through a separate vehicle

An arrangement that is not structured through a separate vehicle is a joint operation. The parties in the joint arrangement determine the rights to the assets and obligations for the liabilities among the parties. Much upstream activity in the oil and gas industry, for example, takes place in undivided interest working arrangements where the parties share joint control, fund development and operations, and take away their share of the production.

Joint arrangements structured through a separate vehicle

A joint arrangement that is structured through a separate vehicle is either a joint venture or a joint operation depending on the parties’ rights and obligations relating to the arrangement.

The parties need to assess whether the legal form of the separate vehicle, the terms of the contractual arrangement and, when relevant, any other facts and circumstances give them:

• rights to the assets and obligations for the liabilities relating to the arrangement (that is, joint operation); or

• rights to net assets of the arrangement (that is, joint venture).

Step 2 – Does the legal form of the separate vehicle confer upon the parties direct rights to assets and obligations for liabilities relating to the arrangement?

The second step in determining the classification is to assess the rights and obligations arising from the legal form of the separate vehicle.

Joint arrangements are established through many different legal structures, including limited liability companies, unlimited liability companies, limited liability partnerships, general partnerships and unincorporated entities. Each of these legal structures exposes the parties to a different set of rights and obligations.

If the legal structure is such that the parties have rights to assets and are obligated for the liabilities, it is a joint operation because the legal entity does not create separation between the parties and the arrangement. The relevant laws and regulations need to be carefully assessed. Many partnerships, for example, are designed to allow the partners direct access to the assets, impose unlimited liability for obligations and allow for flow through of tax attributes. This type of separate vehicle does not create separation between the participants and the arrangement.


步骤1—合营安排是否通过一个单独载体构建？

单独载体是可单独辨认的财务结构，包括单独法律实体或法规所认可的主体（无论这些主体是否具有法人资格）。

用于构建合营安排的最常见载体形式是有限责任公司、合伙企业、法人团体、联盟和信托。以上各种形式均为可单独辨认的财务结构，具有可单独辨认的资产、负债、收入、费用、财务安排和财务记录，因而均为单独载体。

然而，准则中“单独载体”的定义非常广泛。单独载体并非必须具有法人资格。双方间的合同安排也可能产生单独载体，尽管预计这一情况并不经常发生。

在确定某一特定结构是否符合“单独载体”的定义前，应考虑当地的法律和法规。

并非通过单独载体构建的合营安排

并非通过单独载体构建的安排属于共同经营。合营安排中的各方决定了各方对资产的权利和对负债的义务。例如，石油和天然气行业的多项上游活动均发生于不可分割的权益的工作安排中，即各方分享共同控制权、为开发和经营注资并承担各自在产出中的份额。

通过单独载体构建的合营安排

通过单独载体构建的合营安排属于合营企业或共同经营，具体取决于参与方与安排相关的权利和义务。

参与方需评估单独载体的法律形式、合同安排的条款以及任何其他的事实和情况（如相关）是否给予其：

• 对安排相关资产的权利和对相关负债的义务（即共同经营）；或

• 对安排的净资产的权利（即合营企业）。

步骤2—该单独载体的法律形式是否将对资产的直接权利和对负债的直接义务授予安排的参与方？

确定分类的第二个步骤是评估单独载体的法律形式所产生的权利和义务。

合营安排通过多种不同的法律结构建立，包括有限责任公司、无限责任公司、有限责任合伙企业、普通合伙企业和非法人实体。以上每一种法律结构均使参与方面对一系列不同的权利和义务。

如果法律结构致使参与方具有对资产的权利和对负债的义务，则其为共同经营，因为该法律实体并未在参与方与安排之间建立起分隔。需仔细评估相关法律和法规。例如，许多合伙企业旨在允许合伙人直接拥有资产，承担对相关义务的无限责任并允许税务的责任。这一类型的单独载体并未在参与方与安排之间建立起分隔。


The key question is – can the separate vehicle or legal entity be considered in its own right – that is, are the assets and liabilities held in the separate vehicle those of the separate vehicle, or are they the assets and liabilities of the parties?

Examples of separate vehicles

Partnerships, in many cases, do not create separation, as the partners are exposed to the liabilities and have rights to the assets of the partnership in the normal course of business. Some types of limited liability partnership (LLP) may create separation where the partners are not obligated for the liabilities of the LLP and the assets of the LLP are its own assets. The relevant law in the country where the LLP is domiciled should be considered, as the rights and obligations of the general partners and the limited partners may differ substantially in different circumstances.

Limited liability companies in most jurisdictions will create separation between the parties to the joint arrangement and the assets and liabilities of the arrangement. The creditors of the arrangement do not have a right to claim against the parties for unpaid debts. Unlimited liability companies exist in some jurisdictions and may still allow the parties direct rights to assets and obligations for liabilities.

Associations, trusts or specific types of corporation are other forms of legal entity used to establish joint arrangements. The rights and obligations arising from these structures vary significantly depending on jurisdictional laws and regulations. These should be assessed based on the specific facts and circumstances.

A separate vehicle that does not allow the parties rights to assets and obligations for liabilities relating to the arrangement indicates that the arrangement is a joint venture. However, the contractual terms between the parties and, when relevant, other facts and circumstances can override the legal form.

Step 3 – Do the contractual terms between the parties confer upon them rights to assets and obligations for liabilities relating to the arrangement?

The rights and obligations agreed to by the parties in their contractual terms are normally consistent with the rights and obligations conferred on the parties by the legal form of the separate vehicle. The selection of a particular legal form is usually driven by the intended economic substance that the particular legal form delivers.

However, the parties to a joint arrangement may choose a particular legal form to respond to tax or regulatory requirements, or for other reasons. This may not be consistent with the economic substance sought by the parties to the arrangement. The parties might then enter into contractual arrangements that modify the legal form of the arrangement and create different rights and obligations. If the contractual terms give the parties rights to assets and obligations for liabilities, the arrangement is a joint operation.

The assessment of rights and obligations should be carried out as they exist in the ‘normal course of business’ (IFRS 11 B14). Legal rights and obligations arising in circumstances that are other than in the ‘normal course of business’, such as liquidation and bankruptcy, are much less relevant.

The creditors generally have the first right to the assets of a company in liquidation or bankruptcy. The shareholders only have rights in the net assets remaining after settlement of the third-party liabilities. This would suggest that a limited liability company could never be a joint operation, as the shareholders have rights only to the residual assets. However, IFRS 11 was not intended to create an ‘in substance’ policy choice for equity accounting simply through the insertion of a legal entity. IFRS 11 requires the economic substance of the joint arrangement to be considered through assessment of any contractual arrangements and other relevant facts and circumstances.


关键问题在于—可否认为单独载体或法律实体为其自身所有—即单独载体所持有的资产和负债是否为其自身的资产和负债，或其是否为参与方的资产和负债？

单独载体的示例

许多情况下，合伙企业并不建立起分隔，因为在正常经营活动中合伙人承担合伙企业的负债，并对合伙企业的资产具有权利。对于有些类型的有限责任合伙企业，如果合伙人对合伙企业的负债不承担义务且该合伙企业的资产为其自身的资产，则这些类型的有限责任合伙企业可能建立起分隔。应考虑有限责任合伙企业所在国家的相关法律，因为普通合伙人的权利和义务与有限合伙人的权利和义务在不同情况下可能大相径庭。

大多数辖区的有限责任公司会在合营安排参与方与该安排的资产和负债之间建立起分隔。该安排的债权人无权向参与方索债。无限责任公司存在于某些辖区，并可能仍允许参与方具有对资产的直接权利和对负债的直接义务。

联盟、信托或特定类型的法人团体是用于建立合营安排的其他法律实体形式。这些结构所产生的权利和义务因辖区的法律和法规不同而差异极大。应基于具体事实和情况对这些权利和义务进行评估。

如果单独载体不允许参与方具有对安排相关资产的权利和对相关负债的义务，则表明该安排为合营企业。然而，参与方之间的合同条款，及其他事实和情况（如相关）可能凌驾于法律形式之上。

步骤3—参与方之间的合同安排是否将对资产的直接权利和对负债的直接义务授予该安排的参与方？

参与方在其合同条款中同意接受的权利和义务通常与该单独载体的法律形式给予这些参与方的权利和义务一致。特定法律形式的选择通常由该特定法律形式所提供的预期经济实质决定。

然而，合营安排参与方可能为应对税务或监管要求或出于其他原因，选择特定的法律形式。这可能与安排参与方所寻求的经济实质不一致。参与方随后可能订立修改该安排法律形式并产生不同权利和义务的合同安排。如果合同条款将对资产的直接权利和对负债的直接义务授予该安排的参与方，则该安排属于共同经营。

应对存在于“正常经营活动”中的权利和义务进行评估（IFRS 11.B14）。除“正常经营活动”之外的情况（例如清算和破产）下产生的法定权利和义务对分类的相关性则小得多。

在公司清算或破产时，债权人一般对公司资产享有优先受偿权。股东仅对清偿第三方负债后剩余的净资产具有权利。这就表明，有限责任公司绝不可能属于共同经营，因为股东仅对剩余资产具有权利。然而，IFRS 11并非旨在仅通过加入法律实体，而实质地提供对权益法会计处理的选择权。IFRS 11要求透过对任何合同安排及其他相关事实和情况的评估，考虑合营安排的经济实质。


Indicators in contractual arrangements – Joint operations

Rights to assets

The parties share all interests (for example, rights, title or ownership) in the assets in a specified proportion − either in proportion to the parties’ ownership interest in the arrangement or in proportion to the activity carried out through the arrangement.

Obligations for liabilities

The parties share all liabilities, obligations, costs and expenses in a specified proportion as in the case of rights to assets.

Revenues and expenses

The contractual arrangement usually establishes the allocation of revenues and expenses on the basis of the relative contribution or consumption of each party to the joint arrangement. For example, the contractual arrangement might establish that revenues and expenses are allocated on the basis of the capacity that each party uses in a plant operated jointly, which could differ from their ownership interest in the joint arrangement.

Indicators in contractual arrangements – Joint ventures

Rights to assets

The assets and rights owned by the arrangement are those of the arrangement; the parties do not have any direct interests in the title or ownership of these assets.

Obligations for liabilities

The contractual terms establish that the arrangement is liable for the debts and obligations of the arrangement and that the parties are only liable to the extent of unpaid capital. Further, the creditors of the joint arrangement do not have rights of recourse against the parties.

Revenues and expenses

The parties share in the net cash flows and net profits of the arrangement in proportion to their shareholding.

How are guarantees issued by the parties considered in determining the classification of a joint arrangement?

Parties to joint arrangements may provide guarantees to third parties on behalf of the arrangement. This may be necessary in order to obtain financing or during the construction or development stages of a project. Does the provision of such guarantees (or commitment by the parties to pay in case the arrangement fails to pay or meet its obligations) indicate that the parties have direct obligations for the liabilities of the arrangement?

Rights and obligations are assessed, as they exist in the normal course of business. It is not appropriate to assume that the arrangement will not settle its obligations and that a guarantee will be called, as this would not be in the ‘normal course of business’.

The provision of guarantees or commitments for funding are therefore not conclusive in determining classification, although these may be indicative of the willingness of the parties to the arrangement to fund the obligations of the arrangement and the dependence of the arrangement on the parties for cash flows.


合同安排的特征—共同经营

对资产的权利

参与方按指定比例分享资产的所有权益（例如，权利、产权或所有权）—按参与方在安排中的所有权权益的比例或按通过该安排开展的活动的比例。

对负债的义务

正如对资产的权利的情况，参与方按指定比例分担所有负债、义务、成本和费用。

收入和费用

合同安排通常按合营安排各参与方的相对资金投入或消耗确定收入和费用的分配。例如，合同安排可能规定应基于各参与方在其共同经营的工厂中可运用的产能分配收入和费用，这一分配基础可能不同于参与方在合营安排中的所有权权益的分配基础。

合同安排的特征—合营企业

对资产的权利

安排所拥有的资产和权利属于安排本身；参与方并不直接享有这些资产的产权或所有权。

对负债的义务

合同条款规定合营安排对该安排的债务和义务承担责任，且参与方仅以未缴资本为限承担责任。此外，合营安排的债权人对参与方无追索权。

收入和费用

参与方按其持股比例分享安排的净现金流量和净利润。

在确定合营安排的分类时如何考虑参与方所出具的担保？

合营安排参与方可能代替该安排向第三方提供担保。为获得融资或在项目的建造或开发阶段这可能是必要的。此类担保（或参与方作出在安排不能偿付或履行其义务时进行付款的承诺）是否表明参与方对安排的负债承担直接义务？

应对存在于正常经营活动中的权利和义务进行评估。假设安排不会履行其义务并将需要担保的做法并不恰当，因为这假设不会发生于“正常经营活动”中。

因此，注资担保或承诺的提供对于分类并非是决定性的，尽管其可能表明安排参与方为该安排提供筹资义务的意愿以及该安排的现金流对参与方的依赖。


Step 4 – Do ‘other facts and circumstances’ lead to rights to assets and obligations for liabilities being conferred upon the parties to the arrangement?

Assessing ‘other facts and circumstances’ includes consideration of the purpose and design of the arrangement, its relationship to the parties and its source of cash flows. An arrangement designed primarily for the provision of output to the parties may indicate that the objective of the parties was to have direct access to the assets of the arrangement. The parties may be obligated to purchase or take all of the output of the joint arrangement. The purchase and sale agreements, off-take arrangements or cash calls may indicate that the parties are the sole source of cash flows for the joint arrangement.

The effect of an arrangement with such a design is that the liabilities incurred by the arrangement are in substance satisfied by the cash flows received from the parties and the parties are the only source of cash flows for the continuity of the arrangement’s operations. This is indicative of a joint operation.

Considerations when assessing ‘other facts and circumstances’

Some or all of the following characteristics might indicate that a joint arrangement in a legal entity should be classified as a joint operation:

1. The joint arrangement may be prohibited from selling any of its output to third parties.

2. The parties have uninterrupted access to the output.

3. There is likely to be a binding obligation on the parties to purchase substantially all of the output.

4. The demand, inventory and credit risks relating to the activities of the arrangement are passed on to the parties and do not rest with the arrangement.

5. The output or services are priced to cover the costs of the arrangement and not expected to generate significant net income.

6. The arrangement is unlikely to have any third party borrowings without guarantees or take-or-pay arrangements with the parties.


步骤4—是否存在“其他事实和情况”导致对资产的直接权利和对负债的直接义务授予该安排的参与方？

对“其他事实和情况”的评估包括考虑安排的目的和设计、其与参与方的关系及其现金流的来源。以向参与方提供产出为主要目的而设计的一项安排可能表明这些参与方的目的在于直接享有该安排的资产。参与方很可能有义务购买或承担该合营安排的所有产出。购销协议、承购安排或筹资承担可能表明参与方为该合营安排现金流的唯一来源。

具有此类设计的安排的影响是该安排所发生的负债实质上由从参与方获得的现金流清偿，且参与方为该安排持续经营所需现金流的唯一来源。从而表明其属于共同经营。

评估“其他事实和情况”时所需考虑的因素

下列部分或全部特征可能表明法律实体中的合营安排应被分类为共同经营。

1. 合营安排可能被禁止向第三方出售其任何产出。

2. 参与方不受干扰地享有上述产出。

3. 参与方很可能具有约束力的义务购买实质上所有产出。

4. 与该安排的活动相关的需求、存货和信用风险被转移至参与方，因而不再是该安排的责任。

5. 产出或服务的定价将涵盖安排的成本，且预计不会产生重大的净收益。

6. 该安排不太可能具有任何无参与方担保的或者无与参与方之间的照付不议安排的第三方借款。


Application of classification criteria

The following assumptions are common to each of the scenarios considered below:

• joint control exists; and

• there is a legal entity that creates separation between the parties and the joint arrangement.

The initial indicators are that the arrangements are joint ventures. The table below outlines how ‘other facts and circumstances’ might affect the classification of the arrangement.

Scenarios Classification Analysis

The arrangement manufactures seats for automobiles. Both parties are in the business of assembly and sale of automobiles. Both are obligated to take output in proportion to their shareholding.

The price of the seats is set by the parties at a level such that the arrangement operates at break-even.

The arrangement is prohibited from selling the seats to third parties.

Joint operation The design of the arrangement is to provide all its output to the parties. It is dependent on the parties for its cash flows to ensure continuity of operations. The parties get substantially all the economic benefits from the assets of the arrangement.

The joint arrangement produces a commodity such as oil which is readily saleable in the market. The parties are obligated to buy their share of the output.

Likely to be a joint operation The parties are obliged to take their share of the output and in turn fund the operations of the joint activity. The fact that the product is readily saleable becomes less relevant because there is an obligation on the arrangement to sell all of its output to the parties.

The arrangement produces dry gas and gasoline.

100% of the dry gas is taken by one party and 100% of the gasoline is taken by the other party. The joint arrangement may not make sales to other parties. Both products are priced at raw material cost plus a processing margin to cover the operating costs of the joint arrangement.

Each party uses their respective product in their business. Any residual profit or loss in the arrangement is distributed by way of dividends to the parties in the proportion of their shareholding but is not significant.

Likely to be a joint operation The parties may engage in the joint arrangement to obtain cost savings or to guarantee supplies. They do not have to share all the products in proportion to their shareholding.

The arrangement is dependent on the parties for cash flows and the parties take all the output. This is a strong indicator that the arrangement may be a joint operation.


分类标准的应用

以下假设为下文所述的各种情况所共有：

• 存在共同控制；以及

• 存在一个在参与方与合营安排间建立起分隔的法律实体。

初始迹象表明这些安排属于合营企业。下表概括了“其他事实和情况”可能对该安排的分类有何影响？

情况分类分析

该安排生产汽车座椅。两参与方均从

事汽车装配和销售业务。双方均有义

务按其持股比例承担产出。

座椅的价格由双方设定旨在使该安排

的运作实现盈亏平衡的水平上。

该安排被禁止向第三方出售座椅。

共同经营该安排的设计旨在向双方提供其所有

产出。其依赖双方为其提供现金流以

确保其运作的持续性。双方获得实质

上所有来自该安排资产的经济利益。

该合营安排生产诸如石油等随时可在

市场中出售的商品。参与方有义务购

买其在产出中的份额。

很可能属于共同经营参与方有义务承担其在产出中的份额

并为合营活动的运作注资。产品随时

可出售的事实的相关性变小，因为该

安排有义务向参与方出售其所有产

出。

该安排生产干气和汽油。

100%的干气由一方承担且100%的汽油由另一方承担。该合营安排不得

向其他方进行销售。两项产品均以原

材料成本与加工毛利之和定价，以涵

盖该合营安排的运作成本。

双方均将其各自的产品用于其业务。

该安排的任何剩余损益均以股利的

方式按各方的持股比例分配至双方，

但并不重大。

很可能属于共同经营双方可能参与该合营安排以实现节约

成本或保证供应。其并非必须按其持

股比例分担所有的产品。

该安排依赖双方提供现金流，且双方

承担所有产出。这是表明该安排可能

属于共同经营的强烈迹象。


Scenarios Classification Analysis

Parties have a right of first refusal to buy the output from a joint arrangement but they are not obligated to take the output.

The arrangement was established three years ago.

Year 1: the parties take all the output in the ratio of their shareholding.

Year 2: the product is sold to third parties.

Year 3: the parties take the output but in a ratio different from their shareholding.

Likely to be a joint venture The following factors indicate that the arrangement is most likely a joint venture.

• There is no obligation on the arrangement to sell its output to the parties;

• Output has been sold to third parties. This proves that the arrangement is not substantially dependent on the parties for its cash flows.

Two parties set up an arrangement to manufacture a product. The product is sold to third parties. Per the contractual terms:

• all the gross cash proceeds from revenue of the arrangement are transferred to the parties on a monthly basis in proportion of their shareholding;

• The parties agree to reimburse the arrangement for all its costs in proportion of their shareholding based on cash calls.

Likely to be a joint venture The purpose and design of the arrangement is not to provide all of its output to the parties.

The arrangement is selling the product to third parties and generating its own cash flows.

Transferring gross proceeds of revenues to the parties and making cash calls for incurring its costs does not indicate that the parties have rights to assets and obligations for liabilities of the arrangement. It is merely a funding mechanism. It is no different from the parties having an interest in the net results of the arrangement.

Two parties set up a joint arrangement. One of the parties takes 100% of the output at market prices and the other party only takes its share of the profits/loss made by the entity.

Judgement required All facts and circumstances have to be considered before determining the classification. Assessment of the economic rationale behind such arrangement might give an indication of the purpose and design of the arrangement.

Assessment should be made whether one of the parties actually controls the arrangement or if there is an IFRIC 4 lease.

If the arrangement is a joint arrangement, it seems to have some features of a joint operation and some of a joint venture. The arrangement does not sell to third parties and is dependent on one of the parties for its continuous cash flows, which indicates that it may be a joint operation. However, the other party does not consume any of the output and has an interest in the net profits of the arrangement. This indicates that it could be a joint venture.

It is unlikely that one joint arrangement will include both a joint venture and a joint operation. Consideration should be given to all facts and circumstances before reaching a conclusion.


情况分类分析

参与方具有购买合营安排产出的优先

购买权，但其并无义务承担该产出。

该安排于3年前建立。

第1年：参与方按其持股比例承担所有产出。

第2年：产品被售予第三方。

第3年：参与方承担产出，但并非按其持股比例承担。

很可能属于合营企业下列因素表明该安排最有可能属于合

营企业。

• 该安排并无义务向参与方出售其产出。

• 产出已被售予第三方。这就证明该安排并未在实质上依赖参与方为其

提供现金流。

双方订立了一项安排以生产某产品。

该产品被售予第三方。根据合同条

款：

• 该安排的收入所产生的所有现金收入总额按各方的持股比例逐月

转移至各方；

• 双方同意基于筹资需求并按其持股比例偿付该安排的所有成本。

很可能属于合营企业该安排的目的和设计并不在于向双方

提供其所有产出。

该安排向第三方出售产品并形成其自

身的现金流。

将该安排的收入所产生的全部所得转

移至双方并提出筹资需求以承担其成

本的做法，并不表明双方对该安排的

资产具有权利并对其负债具有义务。

其仅是一种资金筹集机制。其无异于

双方在该安排的净成果中享有权益的

情况。

双方订立了一项合营安排。一方以市

价承担产出的100%；另一方仅承担其在主体所获损益中的份额。

需运用判断在确定分类前必须考虑所有事实和情

况。对此类安排背后经济原理的评估

可能表明了该安排的目的和设计。

应对一方实际是否控制着该安排或者

是否存在国际财务报告解释公告第4号中所述的租赁作出评估。

如果该安排属于合营安排，则其看似

具有共同经营的某些特征以及合营企

业的某些特征。该安排并不向第三方

进行销售，且依赖一方为其提供持续

的现金流，这表明其可能属于共同经

营。然而，另一方不消耗任何产出，并

对该安排的净利润具有权益。这表明

其可能属于合营企业。

一项合营安排不太可能既包括合营企

业又包括共同经营。应在得出结论前考

虑所有事实和情况。


The classification of joint arrangements under IFRS 11 depends upon the parties’ rights and obligations arising from the arrangement as a whole and not just the rights and obligations inherent in the legal form of the arrangement. The legal form of the arrangement is just one of the factors considered in the assessment. The economic substance of the arrangement arising from the contractual terms agreed between the parties and other facts and circumstances plays a key role in determining the classification of a joint arrangement.

Other considerationsDifferent joint arrangements or different types of joint arrangement can be established beneath the umbrella of a single framework agreement. One separate vehicle could conceivably include both a joint operation and a joint venture, although it would be rare in practice. This could occur when the parties undertake different activities in which they have different rights and obligations relating to the different activities. Management should take care when considering this approach and the inherent complexity and judgements in the eventual accounting, such as allocating the assets and liabilities between the parties.

One framework, two arrangements?

Three parties might establish joint control over a refinery in a legal entity. The three parties, A, B and C have shareholdings of 35%, 35% and 30% respectively, in the legal entity. A and B provide crude oil to the refinery and each is obligated to take 50% of the refined products. C operates the refinery and receives a management fee for its services. The refined products are priced to such that the cash flows will cover operating expenses and sufficient cash to pay C’s management fee. There may be a joint operation that encompasses the refining activity and refinery assets between A and B and a joint venture between A, B and C for the operations of the refinery.

Re-assessment of classification

The decision on classification is subject to continuous reassessment, and classification could change over time. The change could be an expected one, as different contractual arrangements are triggered as the activities of the arrangement change or it could arise because the parties agree changes to the existing contracts. For example, a joint arrangement in the exploration and development phase may fund this phase though cash calls from the parties to the arrangement and therefore be classified as a joint operation. Once in production, the parties change the contractual terms and sell a substantial portion of the output to third parties, and the joint arrangement is no longer dependent on the parties for its cash flows; thus the classification changes to joint venture.


IFRS 11中合营安排的分类取决于参与方因安排整体而产生的权利和义务，而非仅仅是该安排的法律形式中所固有的权利和义务。安排的法律形式仅为评估时所考虑的因素之一。在确定合营安排的分类时，参与方之间约定的合同条款及其他事实和情况所导致的安排的经济实质起着关键作用。

其他考虑

可在单一框架协议的保护下建立不同的合营安排或不同类型的合营安排。可以想象的是，某一单独载体可能既包括共同经营，又包括合营企业，尽管这在实务中可能较为罕见。这可能在参与方从事不同的活动，并具有与不同活动相关的不同权利和义务时发生。管理层在考虑这一途径及其最终会计处理时（例如在参与方间分配资产和负债），因其中所固有的复杂性和判断性，应谨慎对待。

一个框架，两项安排?

三方可能通过一个法律实体对一家精炼厂建立共同控制。A、B和C三方分别持有该法律实体35%、35%和30%的股份。A和B向精炼厂提供原油，且各有义务承担精炼产品的50%。C负责运作该精炼厂并就其服务收取管理费。精炼产品的定价使得现金流量将能涵盖营运费用，并提供充分的现金以支付C的管理费。A与B之间可能存在包含精炼活动及精炼厂资产的共同经营，且A、B和C之间可能存在合营企业负责精炼厂的运作。

分类的重估

关于分类的决定受到持续的重估，且分类可能随着时间的推移发生变化。变化可能与预期相同，因为不同的合同安排可能在安排的活动发生变化时产生，或者变化可能因参与方同意对现有合同进行更改而产生。例如，勘探和开发阶段的合营安排可能通过要求安排的参与方出资为这一阶段注资，因而被分类为共同经营。一旦投入生产，参与方将变更合同条款，并向第三方出售产出的一大部分，且该合营安排不再依赖参与方为其提供现金流；因此分类变为合营企业。


Acknowledgements致谢

Elza Yuen

阮慧瑶

Accounting Consulting Services Director

会计咨询服务总监

Special thanks to the following individuals for their contributions to translation and production of this publication.

特别感谢一下参与本出版翻译及编制的普华永道成员及其所做的贡献。


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