Business combinations under common control
Oral Update
Background
The Technical Principal leading the project informed the Board of the discussions relating to Business Combinations under Common Control (BCUCC) held at the recent Accounting Standards Advisory Forum (ASAF) meeting. ASAF had mixed views about which approach should be pursued, with some ASAF members suggesting to use the unmodified acquisition method for BCUCC. There was some discussion on whether the presence of non-controlling interests (NCIs) played a role and whether the size of NCI mattered. Based on the discussion, as a next step the staff will explore accounting models for transactions that include NCI and transactions that do not.
Staff recommendation
The staff did not recommend any decisions in this session.
Discussion
There was no significant discussion in this session.
Decision
No decisions were made.
