Accounting for Business Combinations in MFRS 3
Acquisitions are a standard business practice, and several motivations exist behind this. For instance, they may be interested in increasing their overall size, diversifying the types of products they sell or services they provide, or expanding into new markets or geographical areas. However, the question that needs to be answered is how we can determine […]
Amendments to MFRS 3 – Reference to the Conceptual Framework
The Accounting Requirements for Business Combinations have not been altered due to the amendments made to MFRS 3 Business Combinations; instead, MFRS 3’s reference to the Conceptual Framework for Financial Reporting has been brought up to date. In addition, the amendments make it clear that contingent assets should not be recognised at the acquisition date. An […]
