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Business combinations and changes in ownership interests — A guide to the revised IFRS 3 and IAS 27

Published on: Jul 08, 2008

In July 2008, the Deloitte IFRS Global Office published Business Combinations and Changes in Ownership Interests: A Guide to the Revised IFRS 3 and IAS 27.

This guide addresses accounting for business combinations under IFRS 3 (Revised 2008). Where appropriate, it includes the related requirements of IAS 27 (Revised 2008) — particularly the definition of control, accounting for noncontrolling interests, and changes in ownership interests. Other aspects of IAS 27 (such as the requirements to prepare consolidated financial statements and detailed procedures for consolidation) are not addressed.

The guide compares IFRS 3 (2008) and IAS 27 (2008) with their predecessors and identifies the continuing differences between IFRSs and U.S. GAAP.


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