- Accounting services
- Taxes compliance within outsourcing
- Payroll, personal income tax and labor compliance
- Secondments/Loan staff services
- Compilation of the financial and non-financial information
- Accounting systems review and improvement
- Initial setting-up for accounting and taxes systems
- Management accounting and analysis
Mergers and acquisitions are becoming more and more common as entities aim to achieve their growth objectives. IFRS 3 ‘Business Combinations’ contains the requirements for these transactions, which are challenging in practice.
Our ‘Insights into IFRS 3’ series summarises the key areas of the Standard, highlighting aspects that are more difficult to interpret and revisiting the most relevant features that could impact your business.
In order to determine if the guidance of IFRS 3 should be applied to the acquisition of an asset or a group of assets, an entity should first identify if the asset or group of assets acquired represents a business combination. If the entity concludes it is a business combination, it should then ensure the business combination transaction falls within the scope of IFRS 3. This article sets out how an entity
should determine if the transaction is a business combination, and whether it is within the scope of IFRS 3.
This article should be read closely with our other ‘identification’ articles:
- Insights into IFRS 3 – Identifying an acquirer
- Insights into IFRS 3 – Identifying the acquisition date