IFRS: Accounting for Business Combinations

by Wayne Bartlett

This course looks at the various implications of accounting for such issues which are covered by a number of IFRS Standards such as business combinations, separate financial statements and disclosures of interests in other entities.

This course is not currently available

This course will enable you to

  • Understand the objectives and scope of IFRS 3, 10, 11 and 12 as well as IAS 27 and 28
  • Know the basic rules regarding separate and consolidated financial statements
  • Understand how a business combination is identified
  • Identify how joint control is defined

About the course

A business combination is a momentous moment within your organisation and understanding the accounting and reporting implications is vital. As well as business combinations there are other significant moments, too, for example when one entity unites with another on a short-term or one-off basis in a joint venture; these are all situations in which the impact on the accounting and reporting will be significant and a thorough understanding is important.

This course looks at the various implications of accounting for such issues which are covered by a number of IFRS Standards such as business combinations, separate financial statements and disclosures of interests in other entities.

Look inside

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Contents

  • IFRS 3: Business Combinations
    • What are the objectives and scope of IFRS 3?
    • How is a business combination identified?
    • What is the importance of ‘the acquisition method’?
    • What are the rules concerning recognition of the identifiable assets acquired, liabilities assumed and any non-controlling interest in the acquiree?
    • How is goodwill measured and recognised?
    • How do I account for business combinations that have incomplete information at the end of the reporting period?
    • What about subsequent measurement and accounting?
  • IAS 27: Separate Financial Statements and IFRS 10: Consolidated Financial Statements
    • What are the objectives and scope of IAS 27?
    • What is the basic rule regarding the preparation of separate financial statements?
    • What are the objectives and scope of IFRS 10?
    • How does IFRS 10 deal with control?
    • How are power and returns linked?
    • What are the accounting requirements of IFRS 10?
    • How do I determine if an entity is an investment entity?
  • IFRS 11: Joint Arrangements and IAS 28: Investments in Associates and Joint Ventures
    • What are the objectives and scope of IFRS 11?
    • How is joint control defined by IFRS 11?
    • How should the financial statements be prepared when there is a joint operation?
    • What are the objectives and scope of IAS 28?
    • What key definitions should I know about?
    • What factors provide evidence of what is normally regarded as "significant influence"?
    • Can you tell me more about the equity method?
    • What other accounting procedures apply to the equity method?
    • How should impairment losses be dealt with?
  • IFRS 12: Disclosure of Interests in Other Entities
    • What are the objectives and scope of IFRS 12?
    • What does IFRS 12 say about significant judgements and assumptions?
    • What are the disclosure requirements relating to subsidiaries?
    • What are the disclosure requirements relating to joint arrangements and associates?

How it works

Author

Wayne Bartlett

Wayne is an internationally acclaimed speaker and trainer on all aspects of public and private sector accounting and auditing standards. He has been instrumental in helping to develop the profession internationally and has taken lead roles in the development of new professional bodies and the accounting profession in Mozambique and Rwanda, and extensively involved in developing financial reporting in many countries across the globe.

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