The Grant Thornton International IFRS team has published a new guide, Navigating the accounting for business combinations – Applying IFRS 3 in practice. This publication is a guide to assist management with the application of IFRS 3, Business Combinations.
IFRS 3 was revised in January 2008, as was IAS 27, Consolidated and Separate Financial Statements; these two standards apply to business combinations occurring on or after July 1, 2009. The revised standards made major changes to accounting for business combinations and for changes in ownership interests in subsidiaries and some related items.
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