Deloitte comments on IFRS 3 proposals
28 Oct 2005
We have posted the Deloitte Business Combinations (PDF 103k).
On 30 June 2005, the IASB and the US Financial Accounting Standards Board (FASB) jointly published exposure drafts that would amend their business combinations standards (IFRS 3 and SFAS 141) while retaining the fundamental requirement to account for all business combinations using the purchase method of accounting, by which one party is always identified as acquiring the other. Among our comments are the following:
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