Joint venture – meaning

Joint venture - meaning
Spread the love

A joint venture arises when two or more parties set up a separate entity to be operated under joint control. Neither venturer controls individual assets or liabilities. Rather, they are jointly in control of the entire venture. There must be a separate legal entity. The entity will prepare its own separate financial statements and will be dealt with within the books of each venturer using equity accounting as for associate companies

Author: amidu edson

I am certified accountant with more than 5 years of teaching experience. Currently am teaching auditing and assurance, management accounting and financial accounting for student preparing for professional exams such as ACCA and CPA.

One thought on “Joint venture – meaning”

Leave a Reply