IFRS 3 Business Combinations - Definition of a business - IASB
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.
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