IFRS3_06 - IFRS 3 International Financial Reporting...

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IFRS 3 © IASCF 273 International Financial Reporting Standard 3 Business Combinations This version includes amendments resulting from IFRSs issued up to 31 December 2005.
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IFRS 3 274 © IASCF C ONTENTS paragraphs INTRODUCTION IN1–IN16 INTERNATIONAL FINANCIAL REPORTING STANDARD 3 BUSINESS COMBINATIONS OBJECTIVE 1 SCOPE 2–13 Identifying a business combination 4–9 Business combinations involving entities under common control 10–13 METHOD OF ACCOUNTING 14–15 APPLICATION OF THE PURCHASE METHOD 16–65 Identifying the acquirer 17–23 Cost of a business combination 24–35 Adjustments to the cost of a business combination contingent on future events 32–35 Allocating the cost of a business combination to the assets acquired and liabilities and contingent liabilities assumed 36–60 Acquiree’s identifiable assets and liabilities 41–44 Acquiree’s intangible assets 45–46 Acquiree’s contingent liabilities 47–50 Goodwill 51–55 Excess of acquirer’s interest in the net fair value of acquiree’s identifiable assets, liabilities and contingent liabilities over cost 56–57 Business combination achieved in stages 58–60 Initial accounting determined provisionally 61–65 Adjustments after the initial accounting is complete 63–64 Recognition of deferred tax assets after the initial accounting is complete 65 DISCLOSURE 66–77 TRANSITIONAL PROVISIONS AND EFFECTIVE DATE 78–85 Previously recognised goodwill 79–80 Previously recognised negative goodwill 81 Previously recognised intangible assets 82 Equity accounted investments 83–84 Limited retrospective application 85 WITHDRAWAL OF OTHER PRONOUNCEMENTS 86–87 APPENDICES A Defined terms B Application supplement C Amendments to other IFRSs APPROVAL OF IFRS 3 BY THE BOARD BASIS FOR CONCLUSIONS DISSENTING OPINIONS ON IFRS 3 ILLUSTRATIVE EXAMPLES
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IFRS 3 © IASCF 275 International Financial Reporting Standard 3 Business Combinations (IFRS 3) is set out in paragraphs 1–87 and Appendices A–C. All the paragraphs have equal authority. Paragraphs in bold type state the main principles. Terms defined in Appendix A are in italics the first time they appear in the Standard. Definitions of other terms are given in the Glossary for International Financial Reporting Standards. IFRS 3 should be read in the context of its objective and the Basis for Conclusions, the Preface to International Financial Reporting Standards and the Framework for the Preparation and Presentation of Financial Statements . IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors provides a basis for selecting and applying accounting policies in the absence of explicit guidance.
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IFRS 3 276 © IASCF Introduction IN1 International Financial Reporting Standard 3 Business Combinations (IFRS 3) replaces IAS 22 Business Combinations . The IFRS also replaces the following Interpretations: •S I C - 9 Business Combinations—Classification either as Acquisitions or Unitings of Interests I C - 2 2 Business Combinations—Subsequent Adjustment of Fair Values and Goodwill Initially Reported I C -
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This note was uploaded on 06/12/2011 for the course ECON 801 taught by Professor Brend during the Summer '11 term at Abu Dhabi University.

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IFRS3_06 - IFRS 3 International Financial Reporting...

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