2. Significant changes in IFRS 3 (Revised) - comparative approach
The IFRS 3R replaces IFRS 3 (issued in 2004) and comes into effect for business combinations for which the acquisition date is on or after the beginning of the first annual reporting period beginning on or after 1 July
2009. Its objective is to improve the relevance, reliability and comparability of the information that a reporting entity provides in its financial statements about the business combination issue and its effects. In order to achieve this objective, IFRS 3R establishes principles and requirements for how the acquirer:
(a) recognises and measures in its financial statements the identifiable assets acquired, the liabilities assumed and any non-controlling interest in the acquiree;本文来自优.文~论^文·网原文请找腾讯3249,114
(b) recognises and measures the goodwill acquired in the business combination or a gain from a bargain purchase; and
(c) determines what information to disclose to enable users of the financial statements to evaluate the nature and financial effects of the business combination.
A. The scope of the standard is extended
The scope of IFRS 3R has been extended to cover business combinations involving mutual entities (e.g. mutual insurance companies, credit union and co-operative entities), and those achieved where there is no consideration (e.g. combination by contract alone). Joint ventures and transactions under common control remain outside the scope of the standard.
B. The definition of business combination is focused on “control”
A new approach regards the definition of the business. This is extended to include integrated activities and assets that are capable of being conducted and managed as a business and that provide:
dividends, lower costs, increased share prices, or
other economic benefits to owners, members or participants.
This means that, to meet the definition of a business, assets and activities need not be conducted and managed as a business at the acquisition date, so long as they can be in the future.
According to the new business definition, which gives more emphasis to business rather then entities, a business combination is a transaction or other event in which an acquirer obtains control of one or more businesses. This leads to the conclusion that the revised standard focuses on control, in order to determine whether a transaction gives rise to a business combination. This is a different approach comparing to the current one, where a business combination is defined as the bringing together of separate entities or businesses into one reporting entity, without mentioning the control explicitly. vb客房管理系统课程设计说明书+需求分析+概念设计
C. The application of acquisition method of accounting is changed
The acquisition method (the “purchase method” in the 2004 version)
is used for all business combinations. Steps in applying this method are:
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