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IFRS 3 Business Combinations - Definition of a business - IASB

Date recorded:

At its meeting on April 27, 2017, the IASB discussed the comments received on the proposal to consider a set of activities and assets acquired not to be a business if a concentration exists. A concentration would exist if the fair value of the gross assets acquired is concentrated in a single asset or group of similar assets. This proposal is sometimes called the "screening test".

At a future meeting, the Board will discuss the comments received on the other proposals included in the Exposure Draft.

Review the IASB Update and podcast on the IASB's Web site.

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.