Ifrs gyan

IFRS 3 Business Combinations—business combinations involving newly formed entities: factors affecting the identification of the acquirer and business combinations under common control

The IASB reviewed issues that had been discussed by the IFRS Interpretations Committee relating to requests for guidance on the circumstances or factors that are relevant when identifying an acquirer in a business combination under IFRS 3 and on accounting for business combinations between entities under common control. The IASB agreed with the Interpretations Committee that these issues would be best considered within the context of a broader project on accounting for common control transactions, if the IASB addresses this project at a later stage. All IASB members were in favour of this decision.