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Business Combinations Phase II

Date recorded:

The Board redeliberated the effective date for the revised IFRS 3 Business Combinations and the amended IAS 27 Consolidated and Separate Financial Statements.

In April 2007 the Board decided that the effective date should be 1 January 2009. The staff noted that because of the additional administrative burdens of joint project and the preparation of a Feedback Statement the Standards will not be published before the end of November.

To restore the transition period of 18 months, the Board decided to change the effective date to 1 July 2009. The Board made clear that this postponement of the effective date to have an 18 month period again does not constitute a new policy with regard to the time between publication of a new standard and its effective date. This is done only as an 18 month period has already been agreed on and communicated. Additionally, one Board member noted that the period of five months between the acceptance of a standard by the Board and the actual publication should be exceptional.

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.