International Financial Reporting Standard 3: Business combinations

This version was issued in January 2008. Its effective date is 1 July 2009. IAS 22 Business combinations was issued by the International Accounting Standards Committee in October 1998. It was a revision of IAS 22 Business Combinations (issued in December 1993), which replaced IAS 22 Accounting for Business Combinations (issued in November 1983). | IFRS 3 International Financial Reporting Standard 3 Business Combinations This version was issued in January 2008. Its effective date is 1 July 2009. IAS 22 Business Combinations was issued by the International Accounting Standards Committee in October 1998. It was a revision of IAS 22 Business Combinations (issued in December 1993), which replaced IAS 22 Accounting for Business Combinations (issued in November 1983). In April 2001 the International Accounting Standards Board (IASB) resolved that all Standards and Interpretations issued under previous Constitutions continued to be applicable unless and until they were amended or withdrawn. In March 2004 the IASB issued IFRS 3 Business Combinations. It replaced IAS 22 and three Interpretations: • SIC-9 Business Combinations—Classification either as Acquisitions or Unitings of Interests • SIC-22 Business Combinations—Subsequent Adjustment of Fair Values and Goodwill Initially Reported • SIC-28 Business Combinations—“Date of Exchange” and Fair Value of Equity Instruments. IFRS 3 was amended by IFRS 5 Non-current Assets Held for Sale and Discontinued Operations (issued March 2004). IAS 1 Presentation of Financial Statements (as revised in September 2007)* amended the terminology used throughout IFRSs, including IFRS 3. In January 2008 the IASB issued a revised IFRS 3. The following Interpretations refer to IFRS 3: • SIC-32 Intangible Assets—Web Site Costs (issued March 2002 and amended by IFRS 3 in March 2004) • IFRIC 9 Reassessment of Embedded Derivatives (issued March 2006) • IFRIC 17 Distributions of Non-cash Assets to Owners (issued November 2008).† * effective date 1 January 2009 † effective date 1 July 2009 © IASCF 331 IFRS 3 CONTENTS paragraphs INTRODUCTION IN1–IN13 INTERNATIONAL FINANCIAL REPORTING STANDARD 3 BUSINESS COMBINATIONS OBJECTIVE 1 SCOPE 2 IDENTIFYING A BUSINESS COMBINATION 3 THE ACQUISITION METHOD 4–53 Identifying the acquirer 6–7 Determining the acquisition .