Obtain the 2011 annual report of Vodafone (www.vodafone.com). Required: 1. Contrast the accounting approaches used in Notes

Question:

Obtain the 2011 annual report of Vodafone (www.vodafone.com).

Required:
1. Contrast the accounting approaches used in Notes 13 for “investments in joint ventures” and 14 for “investments in associated undertakings.” What are key similarities and differences?
2. Do you think it is likely that Vodafone’s accounting for joint ventures will change after it implements IFRS No. 11? Explain.