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Associates and joint ventures under new UK GAAP

Section 14 and Section 15 of the accounting standard FRS 102 cover investments in associates and joint ventures. On this page you can access a range of articles, books and online resources providing useful links to the standard, summaries, guidance and news of recent developments.

General guidance and information on the accounting standard is available from our FRS 102 page.

Issues relating to associates and joint ventures were dealt with in FRS 9 under old UK GAAP. This standard has been superseded by FRS 102.

What's on this page?

  • Full-text standard
  • Model accounts
  • Guidance and support from ICAEW
  • eBooks
  • Guides
  • Online articles
  • Articles and books from the Library

Contact the Library

Expert help for your enquiries and research.

E  library@icaew.com

T  +44 (0)20 7920 8620

Full-text standard

FRS 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland
As issued by the Financial Reporting Council (FRC) in September 2015. This updated edition incorporates amendments issued in September 2014, February 2015, March 2015 and July 2015. Investments in associates are covered in Section 14 and investments in joint ventures are covered in Section 15.

More information and links to previous versions and amendments are available on our main FRS 102 page.

Model accounts

Model accounts and disclosure checklists for new UK GAAP
The ICAEW Library can provide model accounts and disclosure checklists for FRS 101, FRS 102, FRS 102 Section 1A, FRS 103 and FRS 105. The examples and checklists cover a broad range of entities, including small companies, charities, groups, LLPs and micro-companies.

ICAEW guidance and support

The new UK GAAP
ICAEW's financial reporting portal offering practical resources on the new regime, including guidance factsheets and FAQs covering key topics.

FRS 102: Accounting for fixed asset investments in individual financial statements
Technical helpsheet addressing some of the commonly asked questions around accounting for fixed asset investments in individual financial statements.

Ask ICAEW Technical Advisory Service

Get an opinion from the experts. Our experienced technical advisors can help you with your new UK GAAP questions and offer practical advice. Call the advisory helpline on +44 (0)1908 248 250.

Questions we've dealt with recently include:

  • Can I do merger accounting under FRS 102?
  • When do I have to apply FRS 102 to my UK company client?
  • How does FRS 102 impact charities? 

Find out more about the Technical and ethics advisory helpline, including our opening hours.

Financial Reporting Faculty

Financial Reporting Faculty
The faculty offers assistance and support in IFRS, UK GAAP and other aspects of business reporting. It offers technical briefings and factsheets, IFRS and UK GAAP standards-trackers, plus practical advice from industry experts and working accountants.

eBooks

The Library provides full text access to a selection of key business and reference eBooks from leading publishers. eBooks are available to logged-in ICAEW members, ACA students and other entitled users. If you are unable to access an eBook, please see our Help and support advice or contact library@icaew.com.

Interpretation and application of UK GAAP for accounting periods commencing on or after 1 January 2015
Steve Collings (2015)
A detailed, practical guide to applying UK GAAP with specific sections and examples covering:

UK GAAP 2017: Application of FRS 100–104 in the UK
EY (2017)
This guide has been fully updated to reflect the application of the new accounting standard in practice. It focuses on each area of the financial statement in detail and explains how they are treated by FRS 102, with illustrative examples. The chapters on investments in associates and investments in joint ventures cover:

  • Comparison between Section 14 and IFRS
  • Requirements of Section 14 for investments in associates
  • Practical implementation issues
  • Company law matters for investments in associates
  • Summary of GAAP differences in accounting for associates
  • Comparison between Section 15 and IFRS
  • Requirements of Section 15 for investments in joint ventures
  • Company law matters for investments in joint ventures
  • Summary of GAAP differences in accounting for joint ventures.

Guides

Some guides and comparisons that we link to may pre-date the latest amendments to this standard. While these resources contain useful information, please treat them with appropriate caution.

FRS 102: Accounting for groups - tips and advice
CCH Daily, February 2017
In this article, the author unpicks accounting rules for reporting entities involved in groups or other entities as set out in FRS 102 Section 9 Consolidated and Separate Financial Statements, Section 14 Investments in Associates, Section 15 Investments in Joint Ventures, and Section 19 Business Combinations and Goodwill. Available online to Accountancy Daily subscribers or in print from the Library.

FRS 102: Related parties and close family members - tips and advice
CCH Daily, February 2017
This article assesses the accounting reporting for related parties looking at disclosure requirements about close family members, associates and joint ventures, an area which is dealt with fairly vaguely in FRS 102 section 33. Available online to Accountancy Daily subscribers or in print from the Library.

FRS 102: Part 5 - Associates and JVs
CCH Daily, November 2013
Fifth in a series of articles exploring areas where FRS 102 differs significantly from current UK GAAP. This article considers the accounting treatment for associates and joint ventures under new UK GAAP. Available online to Accountancy Daily subscribers or in print from the Library.

Online articles

The Library provides access to leading business, finance and management journals. These journals are available to logged-in ICAEW members, ACA students and other entitled users subject to suppliers' terms of use.

Articles are available to logged-in ICAEW members, ACA students and other entitled users.

Articles and books in the Library collection

To find out how you can borrow books from the Library please see our guide to book loans. You can obtain copies of articles or extracts of books and reports by post, fax or email through our document supply service.

Can't find what you are looking for?

If you're having trouble finding the information you need, ask the Library & Information Service. Contact us by telephone on +44 (0)20 7920 8620, by web chat or by email at library@icaew.com.

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