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IASB Agenda Paper: Definition of a business

  • IFRS - IASB Image

Oct 16, 2017

On October 16, 2017, the International Accounting Standards Board (IASB) released a comparison between FASB Amendments and IASB tentative decisions on the definition of a business.

The agenda paper:

  • compares the Board’s tentative decisions with the FASB Amendments;
    Agenda ref 13A;
  • explains the main differences;
  • reports feedback from Accounting Standards Advisory Forum (ASAF) members on the Board’s tentative decisions: and
  • recommends clarifying that the cash acquired should be excluded from the gross assets acquired considered in the screening test.

Appendix A of this paper includes a table that shows a summary of all the Board’s tentative decisions against the FASB decisions.

Review the agenda paper on the IASB's website.

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