IAS 27 — Presentation of comparatives when applying the 'pooling of interests' method, and combined financial statements and redefined reporting entities
Staff introduced two requests asking for guidance on the presentation of comparatives when the 'pooling of interest' method is applied to common control business combinations as well as other related issues regarding combined financial statements.
Several members disagreed with addressing these specific questions without resolving the bigger issue of accounting for common control transactions.
A general discussion followed on whether there are any principles in IAS 27 that the IFRIC can interpret that will resolve these questions. The IFRIC concluded that it could not identify clear principles for resolving the specific issues and, therefore, decided not to add these matters to its agenda until the larger issue of common control transactions is addressed by the Board.
