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Accounting for business combinations often presents considerable challenges for IFRS preparers. This two-day program provides a comprehensive understanding of, and hands-on practice in, applying the IFRS requirements on business combinations, consolidated financial statements and interests in associates, joint ventures and joint operations.
Our specialist instructors will explain and review the relevant parts of the following Standards:
- IFRS 3 Business Combinations
- IFRS 10 Consolidated Financial Statements
- IFRS 11 Joint Arrangements
- IFRS 12 Disclosure of Interests in Other Entities
- IAS 28 Investments in Associates and Joint Ventures
Using illustrative examples and real-world financial statements, the theory and practical application of the acquisition method of accounting for business combinations is demonstrated in an interactive group environment. The program also gives delegates a sound understanding of the requirements and methodology for accounting for acquiring and losing control of interests in joint arrangements and associates.
The course answers questions such as:
- What constitutes a ‘business’ and a ‘business combination’?
- What is included and excluded when calculating the consideration transferred in a business combination?
- How are contingent payments, subsequent fair value adjustments, contingent liabilities and intangible assets treated in a business combination?
- How are goodwill and non-controlling interests measured?
- How does IFRS 10's definition of control affect the scope of consolidated financial statements?
- How is IAS 28’s equity method of accounting applied to associates and joint ventures?
- How does IFRS 11 impact the treatment of joint arrangements?