Insights into IFRS 3 | Identifying business combinations

The Grant Thornton International IFRS team has published three Insights into IFRS 3:

Mergers and acquisitions (business combinations) can have a fundamental impact on the acquirer’s operations, resources and strategies. For most entities, such transactions are infrequent and each is unique. IFRS 3 Business Combinations contains the requirements for these transactions, which are challenging in practice. The standard itself has been in place for more than ten years now and has undergone a post-implementation review by the IASB. It is one of the most referred to standards currently issued.

The Insights into IFRS 3 series summarizes 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.

After issuing Insights into IFRS 3 – The acquisition method at a glance, the Grant Thornton International IFRS team released three Insights into IFRS 3 which set out the steps when identifying whether business combinations are within the scope of IFRS 3, identifying the acquirer and identifying the date of the business combination in accordance with IFRS 3.