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IFRS 3 Business Combinations

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Nirmal Ghorawat
Nirmal Ghorawat

http://canirmalg.wordpress.com/2010/06/02/ifrs-3-business-combinations/

Economia e finanças
1 de 22
IFRS 3 BUSINESS COMBINATIONS Presented By: CA. NIRMAL GHORAWAT B. Com (Hons), ACA
OBJECTIVE ,[object Object],August 30, 2010 CA. Nirmal Ghorawat
CORE PRINCIPLE ,[object Object],August 30, 2010 CA. Nirmal Ghorawat
SCOPE ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],August 30, 2010 CA. Nirmal Ghorawat
DEFINITION - BUSINESS ,[object Object],[object Object],[object Object],[object Object],August 30, 2010 CA. Nirmal Ghorawat
RECOGNITION – ACQUIRER’S PERSPECTIVE ,[object Object],[object Object],[object Object],[object Object],[object Object],August 30, 2010 CA. Nirmal Ghorawat Goodwill on Acquisition is recognised and Subsequently tested for Impairment at reporting date annually rather than amortised.
IFRS 3 : APPLICATION SUMMARY August 30, 2010 CA. Nirmal Ghorawat
IDENTIFY THE ACQUIRER ,[object Object],[object Object],[object Object],August 30, 2010 CA. Nirmal Ghorawat
HOW TO IDENTIFY THE ACQUIRER? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],August 30, 2010 CA. Nirmal Ghorawat
HOW TO IDENTIFY THE ACQUIRER? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],August 30, 2010 CA. Nirmal Ghorawat
MEASURE THE COST OF BUSINESS COMBINATION ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],August 30, 2010 CA. Nirmal Ghorawat
DEFINITIONS – COST OF BUS. COM. August 30, 2010 CA. Nirmal Ghorawat Acquisition Date Date on which Acquirer Effectively obtains ‘Control’ of the Acquiree. Directly Attributable Costs Includes – Professional fees paid to Accountants, Legal Advisors, Valuers and other Consultants to effect Business Combination. Excludes – General Administration Costs, etc. not specifically linked to a Business Combination Fair Value The amount for which an asset could be exchanged, or a liability settled, between knowledgeable, willing parties in an arm length’s transaction.
ALLOCATE THE COST TO ASSETS, LIABILITIES ON ACQUISITION DATE ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],August 30, 2010 CA. Nirmal Ghorawat Exception: Non-current Assets (or Disposal Groups) that are classified as Held for Sale as per IFRS 5 shall be recognised At Fair Value Less Costs to Sell .
ALLOCATE THE COST TO ASSETS, LIABILITIES ON ACQUISITION DATE ,[object Object],August 30, 2010 CA. Nirmal Ghorawat
RECOGNITION OF INCOME OF ACQUIREE ,[object Object],[object Object],August 30, 2010 CA. Nirmal Ghorawat
RECOGNITION OF GOODWILL ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],August 30, 2010 CA. Nirmal Ghorawat
BARGAIN PURCHASE ,[object Object],[object Object],[object Object],August 30, 2010 CA. Nirmal Ghorawat
DISCLOSURE – BY ACQUIRER ,[object Object],[object Object],[object Object],[object Object],[object Object],August 30, 2010 CA. Nirmal Ghorawat
SIGNIFICANT DIFFERENCES WITH INDIAN GAAP August 30, 2010 CA. Nirmal Ghorawat
SIGNIFICANT DIFFERENCES August 30, 2010 CA. Nirmal Ghorawat IFRS Indian GAAP Literature IFRS 3 – Business Combinations AS 14 – Accounting for Amalgamations Scope Wide - Covers all forms of Business Combination irrespective of legal form. Limited – Covers only Mergers & Amalgamation. Method of Accounting Only PURCHASE Method Pooling of Interest for Mergers Purchase Method for Amalgamation
SIGNIFICANT DIFFERENCES August 30, 2010 CA. Nirmal Ghorawat IFRS Indian GAAP Recognition of Assets and Liabilities of Acquiree at Fair Value of identifiable assets and liabilities (including Contingent Liabilities) Amalgamation – Choice of Book Value or Fair Value Merger – at Book Value including Reserves Treatment of Negative Goodwill ,[object Object],[object Object],Recognise as Capital Reserve. Treatment of Goodwill No AMORTISATION. Tested for Impairment at least annually. Amalgamation- Amortised over a period of not more than 5 years. M & A – Tested for Impairment as per AS 29
August 30, 2010 CA. Nirmal Ghorawat

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IFRS 3 Business Combinations

  • 1. IFRS 3 BUSINESS COMBINATIONS Presented By: CA. NIRMAL GHORAWAT B. Com (Hons), ACA
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  • 7. IFRS 3 : APPLICATION SUMMARY August 30, 2010 CA. Nirmal Ghorawat
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  • 12. DEFINITIONS – COST OF BUS. COM. August 30, 2010 CA. Nirmal Ghorawat Acquisition Date Date on which Acquirer Effectively obtains ‘Control’ of the Acquiree. Directly Attributable Costs Includes – Professional fees paid to Accountants, Legal Advisors, Valuers and other Consultants to effect Business Combination. Excludes – General Administration Costs, etc. not specifically linked to a Business Combination Fair Value The amount for which an asset could be exchanged, or a liability settled, between knowledgeable, willing parties in an arm length’s transaction.
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  • 19. SIGNIFICANT DIFFERENCES WITH INDIAN GAAP August 30, 2010 CA. Nirmal Ghorawat
  • 20. SIGNIFICANT DIFFERENCES August 30, 2010 CA. Nirmal Ghorawat IFRS Indian GAAP Literature IFRS 3 – Business Combinations AS 14 – Accounting for Amalgamations Scope Wide - Covers all forms of Business Combination irrespective of legal form. Limited – Covers only Mergers & Amalgamation. Method of Accounting Only PURCHASE Method Pooling of Interest for Mergers Purchase Method for Amalgamation
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  • 22. August 30, 2010 CA. Nirmal Ghorawat

Notas do Editor

  1. August 30, 2010 Presented By: CA. Nirmal Ghorawat IFRS 3 BUSINESS COMBINATIONS
  2. August 30, 2010 Presented By: CA. Nirmal Ghorawat IFRS 3 BUSINESS COMBINATIONS
  3. August 30, 2010 Presented By: CA. Nirmal Ghorawat IFRS 3 BUSINESS COMBINATIONS
  4. August 30, 2010 Presented By: CA. Nirmal Ghorawat IFRS 3 BUSINESS COMBINATIONS
  5. August 30, 2010 Presented By: CA. Nirmal Ghorawat IFRS 3 BUSINESS COMBINATIONS
  6. August 30, 2010 Presented By: CA. Nirmal Ghorawat IFRS 3 BUSINESS COMBINATIONS
  7. August 30, 2010 Presented By: CA. Nirmal Ghorawat IFRS 3 BUSINESS COMBINATIONS
  8. August 30, 2010 Presented By: CA. Nirmal Ghorawat IFRS 3 BUSINESS COMBINATIONS
  9. August 30, 2010 Presented By: CA. Nirmal Ghorawat IFRS 3 BUSINESS COMBINATIONS
  10. August 30, 2010 Presented By: CA. Nirmal Ghorawat IFRS 3 BUSINESS COMBINATIONS
  11. August 30, 2010 Presented By: CA. Nirmal Ghorawat IFRS 3 BUSINESS COMBINATIONS
  12. August 30, 2010 Presented By: CA. Nirmal Ghorawat IFRS 3 BUSINESS COMBINATIONS
  13. August 30, 2010 Presented By: CA. Nirmal Ghorawat IFRS 3 BUSINESS COMBINATIONS
  14. August 30, 2010 Presented By: CA. Nirmal Ghorawat IFRS 3 BUSINESS COMBINATIONS
  15. August 30, 2010 Presented By: CA. Nirmal Ghorawat IFRS 3 BUSINESS COMBINATIONS
  16. August 30, 2010 Presented By: CA. Nirmal Ghorawat IFRS 3 BUSINESS COMBINATIONS
  17. August 30, 2010 Presented By: CA. Nirmal Ghorawat IFRS 3 BUSINESS COMBINATIONS
  18. August 30, 2010 Presented By: CA. Nirmal Ghorawat IFRS 3 BUSINESS COMBINATIONS
  19. August 30, 2010 Presented By: CA. Nirmal Ghorawat IFRS 3 BUSINESS COMBINATIONS
  20. August 30, 2010 Presented By: CA. Nirmal Ghorawat IFRS 3 BUSINESS COMBINATIONS
  21. August 30, 2010 Presented By: CA. Nirmal Ghorawat IFRS 3 BUSINESS COMBINATIONS
  22. August 30, 2010 Presented By: CA. Nirmal Ghorawat IFRS 3 BUSINESS COMBINATIONS