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General guidance for preparers of financial statements that supports the commitment to high quality, consistent application of IFRS.

Accounting is a language that does not live from being conceptually perfect, but from being generally accepted and understandable

An overview of IFRS 3’s recognition and measurement principles.

IFRS 3 has specific guidance on how some items are recognised and measured. This article summarises this specific guidance and provides examples to illustrate its application.

How should the identifiable assets and liabilities be measured?

The impact of the International Financial Reporting Interpretations Committee’s (IFRIC) agenda decision on cloud computing costs was bigger than some expected.

What is a reverse acquisition and how do you account for it?

This IFRS viewpoint introduces situations in which mergers and acquisitions are accounted for as reverse acquisitions and how they should be accounted for.

Introducing IFRS 8, key implementation issues and interpretational guidance in certain problematic areas.

The IFRS Interim Financial Statements illustrate a six month accounting period beginning on 1 January 2021.

Business combinations are infrequent transactions that are unique for each occurrence. IFRS 3 ‘Business Combinations’ contains the requirements and despite being fairly stable in the ten years since its been released, still provides challenges when accounting for these transactions in practice.

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.

Acquisitions of businesses can take many forms and can have a fundamental impact of the acquirer’s operations, resources and strategies. These acquisitions are known as mergers or business combinations which should be accounted for using the requirements in IFRS 3 ‘Business Combinations’.

While the automotive industry is expected to partially recover in 2021, the levels of uncertainty surrounding demand and investment will remain difficult to successfully predict.

Common control business combinations

Are you ready for IFRS 16? This series of insights will help you prepare.