IASB Agenda Paper: Definition of a business
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.