IFRS 3 BUSINESS COMBINATIONS | HISTORY OF IFRS 3 | 1 April 2001 | Project carried over from the old IASC | July 2001 | Project added to IASB agenda | 5 December 2002 | Exposure Draft Business Combinations and related exposure drafts proposing amendments to IAS 36 and IAS 38 | 31 March 2004 | IFRS 3 Business Combinations and related amended versions of IAS 36 and IAS 38
IFRS 3 supersedes IAS 22 | 1 April 2004 | Generally: Business combinations agreed to after 31 March 2004.
Special provisions for previously recognised goodwill, negative goodwill, intangible assets, and equity accounted investments. | 29 April 2004 | Exposure Draft of Proposed Amendments to IFRS 3 Combinations by Contract Alone or Involving Mutual Entities.
After considering comments on this ED, the Board decided to include the issues addressed in the ED in the 30 June 2005 exposure draft. | RELATED INTERPRETATIONS | * Issues Relating to This Standard that IFRIC Did Not Add to Its Agenda | AMENDMENTS UNDER CONSIDERATION BY IASB | 30 June 2005 | Exposure Draft of substantial revisions to IFRS 3 |

SUMMARY OF IFRS 3 | | Deloitte has published an 84-page book Business Combinations: A Guide to IFRS 3. The guide: * Outlines the key features of IFRS 3. * Provides illustrative examples to assist in applying the standard. * Discusses the requirements of IAS 36 Impairment of Assets and IAS 38 Intangible Assets as they relate to business combinations. * Includes guidance on determining fair value for the purposes of accounting for business combinations; an overview comparison between the requirements of IFRS and those of US GAAP; a number of frequently asked questions; and illustrative disclosures. You can Download Business Combinations: A Guide to IFRS 3 (PDF 1,894k, August 2004, 84 pages). |
Special Edition of IAS Plus Newsletter on IFRS 3. Click to Download