| Article 28 | Joint arrangements are either joint operations or joint ventures, and have the following characteristics:
- All of the parties are bound by a contractual arrangement.
- The contractual arrangement gives two or more of those parties joint control of the arrangement.
When a joint arrangement is a joint operation, the assets, liabilities, revenues, and expenses relating to the joint operation shall be recognized in accordance with these Regulations, applicable IFRSs, and contractual agreement.
When a joint arrangement is a joint venture, the interest in the joint venture shall be accounted for using the equity method pursuant to Article 9, paragraph 4, subparagraph 1 and IAS 28.
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