Assessment Task IAS 31 applies to accounting for all interests in joint ventures and the reporting of joint venture assets, liabilities, income, and expenses in the financial statements of venturers and investors, regardless of the structures or forms under which the joint venture activities take place, except for investments held by a venture capital organisation, mutual fund, unit trust, and similar entity that (by election or requirement) are accounted for as under IAS 39 at fair value with fair value changes recognised in profit or loss. You are required to critically discuss IAS 31 interest in Joint Ventures. This assignment exertion will be examined in accordance with the following criteria. Introduction: 120 words Structure and contents: IAS 31 procedures for. Definitions of key Terminology Joint Control Operations Proportionate consideration Transaction between a venturer and a joint venture Separate Financial Statements of venturer and investor 900 words IAS 31 disclosure requirements: Disclosure requirements under IAS 31 180 words