Hi, when I studied in the past accounting methods for JV, I though that GAAP required equity method, but IFRS allowed either equity method or a proportionate consolidation. But someone told met that this has changed and that now both standards require equity method. Just done a question that would confirm that, just surprised I have not seen/ heard about this change before.
Can you please confirm?
Thanks!
dont know about the change but CFAI will test us on both equity method and proportionate consolidation, so for the next two days whatever is happening in the real world doesn’t really matter 
no. IFRS still allows for proportionate consolidation.
most preferred method now is equity, refer to curriculum.
Indeed, a friend of mine pointed me out just now to the original book, where on page 127 it reads: '" Both IFRS and U.S. GAAP require the equity method of accounting for joint ventures.**" This has been changed in Jan 2013.
**Institute, CFA. CFA Institute Level II 2014 Volume 2 Financial Reporting and Analysis. John Wiley & Sons P&T, 2013-07-12. VitalBook file.
’