Proportionate consolidation required for reporting interests in jointly controlled entities, reflecting the venturer's share of assets, liabilities, income and expenses. Interests in jointly controlled entities are investments in separate financial statements but are reported in consolidated financial statements by proportionate consolidation, presenting separate line items for the venturer's share of assets, liabilities, income and expenses; exceptions apply for interests held for near-term disposal or subject to severe long-term restrictions, which are accounted for as investments. Proportionate consolidation requires alignment of reporting dates and accounting policies, recognition of goodwill or capital reserve on acquisition differences, and allocation of excess losses to venturers unless legal obligations to cover losses exist.