This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our cookie notice for more information on the cookies we use and how to delete or block them.
The full functionality of our site is not supported on your browser version. Please upgrade your browser to at least Internet Explorer 9, or try using another browser such as Google Chrome or Mozilla Firefox.

IAS 27 — Presentation of comparatives when applying the 'pooling of interests' method, and combined financial statements and redefined reporting entities

Date recorded:

Staff introduced two requests asking for guidance on the presentation of comparatives when the 'pooling of interest' method is applied to common control business combinations as well as other related issues regarding combined financial statements.

Several members disagreed with addressing these specific questions without resolving the bigger issue of accounting for common control transactions.

A general discussion followed on whether there are any principles in IAS 27 that the IFRIC can interpret that will resolve these questions. The IFRIC concluded that it could not identify clear principles for resolving the specific issues and, therefore, decided not to add these matters to its agenda until the larger issue of common control transactions is addressed by the Board.