While reading the following page I read the statement “IFRS & Joint Ventures: prior to early 2009 both the proportionate consolidation and equity accounting methods were allowed for joint ventures under IFRS. This was changed and now only the equity method is permitted for companies that must report joint venture business activities.”
http://financetrain.com/joint-venture-investments/
Can anyone confirm if for the 2012 level 2 exam we need to remember this change? Are there any other ‘in the last’ year changes that are worth noting? I’m just checking.