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.

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.