Accounting for joint arrangements in accordance with the financial accounting system and its compliance with the requirements of IFRS 11. -The Case of HYUNSON Engineering & Construction-

Abstract

This study aims to highlight how to account for joint arrangements in the financial statements in accordance with the requirements of the financial accounting system and its compatibility with accounting standards, as well as the evaluation of these accounting treatments, through a case study of HYUNSON Engineering and Construction during 2018.

The study reached a set of results, most notably that the financial accounting system does not provide sufficient requirements for accounting for joint arrangements, and that there is a gap between this system and international accounting standards.