definition of a joint venture must be accounted for using the equity method. Otherwise joint arrangements are classified as joint operations and 
are accounted for by recognizing the Company’s share of the arrangement’s assets and liabilities. The adoption of this standard did not have 
an impact on the Company’s accounting treatment of its joint arrangements as they meet the definition of joint ventures and were previously 
accounted for using the equity method. 
IFRS 12 ‑ Disclosure of Interest in Other Entities (“IFRS 12”)
IFRS 12 includes all of the disclosures that were previously in IAS 27 related to consolidated financial statements, as well as all of the disclosures 
that were previously included in IAS 31 and IAS 28. These disclosures relate to an entity’s interests in subsidiaries, joint arrangements, associates 
and structured entities. A number of new disclosures are also required, including:
• A requirement to disclose judgments made in determining if the Company controls, has joint control, or significant influence over an entity; and 
• A requirement to disclose judgments made in determining the type of joint arrangement in which the Company has an interest.
The Company adopted this standard and included the required disclosures related to the Company’s interest in subsidiaries, joint arrangements 
and associates in the notes of these consolidated financial statements.
IFRS 13 ‑ Fair Value Measurement (“IFRS 13”)
IFRS 13 establishes a single source of guidance under IFRS for all fair value measurements. IFRS 13 does not change when an entity is required 
to use fair value, but rather provides guidance on how to measure fair value under IFRS when fair value is required or permitted. The Company 
adopted the standard and concluded that the definition of fair value applied in IFRS 13 does not differ materially from the Company’s current 
definition and therefore there was no impact on the Company’s financial position. However, IFRS 13 does expand the disclosure requirements in 
respect of fair value measurement, and these additional disclosures are included in Note 5 of these consolidated financial statements.
62 Killam ProPerties inc | 2013