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SIC-22 — Business Combinations – Subsequent Adjustment of Fair Values and Goodwill Initially Reported


  • IAS 22 Business Combinations


  • Issued: July 2000
  • Effective date: Annual periods ending on or after 15 July 2000
  • Superseded by, and incorporated into, IFRS 3 Business Combinations, effective 31 March 2004.

Summary of SIC-22

In very limited circumstances, IAS 22 permits the subsequent recognition of identifiable assets and liabilities that had not been recognised in the original accounting for an acquisition under the purchase method or adjustment of the amounts initially assigned to identifiable assets and liabilities to reflect additional evidence which has become available. SIC-22 indicates that the adjustment made in such circumstances should be calculated as if the newly assigned values had been used from the date of the acquisition. In some cases there will also be an effect on goodwill or negative goodwill. SIC-22 also addresses the presentation and disclosure of such an adjustment.

Click for IASC Press Release on SIC-22 (PDF 36k).

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.