Jurisdiction(s):
United Kingdom

Key definition

Requirements definition

What does Requirements mean? In Development Consent Order (DCO) practice, Requirements are the binding conditions that regulate how, when and on what detailed terms the authorised development may proceed. They typically oblige the undertaker to submit and secure approval of detailed design, construction, and environmental management documents (for example, CEMP, traffic, landscape, contamination and archaeology plans) before commencement, phased works or operation. The term is used in legislation: section 120 of the Planning Act 2008 permits a DCO to impose “requirements”. In most DCOs they are set out in a schedule (often Schedule 2) and function similarly to planning conditions under the Town and Country...

Classifying and accounting for associates, joint ventures and joint operations under IFRS and FRS 102: assessing control, significant influence and equity accounting in the UK

Published by a LexisNexis Corporate expert

Practice notes

Accounting treatment of joint arrangements, including joint ventures and associates

This Practice Note sets out how to account for joint arrangements, encompassing joint ventures and associates. Although the relevant standards may appear straightforward, applying them in real life can be challenging, so what seems simple at first glance often proves complex in practice. IFRS and FRS 102 largely align, whereas old UK GAAP diverged markedly in several respects. Accordingly, this Practice Note touches on old UK GAAP only incidentally, because FRS 102 applies to accounting periods commencing on or after 1 January 2015 and will govern the overwhelming majority of present and forthcoming transactions that involve joint ventures and associates. Given the close similarity between FRS 102 and IFRS, we spotlight the principal differences instead of analysing each framework in depth. In practice, the main difficulties arise when determining the substance of an arrangement and the extent of control or influence actually exercised, and hence whether the arrangement should be treated as a joint venture, a joint arrangement or an associate (or, indeed, another type of relationship). Forming a view therefore relies on careful judgement about substance and about the degree of control or influence that is actually exercised...

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Tessa Park

Moore Kingston Smith

Tessa is technical partner of Kingston Smith LLP where she is responsible for preparing and presenting technical guidance and training on all aspects of financial reporting including FRS 102 and International Financial Reporting Standards (IFRS). Prior to joining Kingston Smith from a technical role within the mid tier, she worked with growing and entrepreneurial businesses, including listed companies, in a number of roles including as an audit manager in a Big Four firm....

Web page updated on 21/05/2026

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