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The global IFRS team at Grant Thornton International Ltd have released their updated Example Interim Consolidated Financial Statements 2022

General sustainability sustainability-related disclosure requirements and climate-related disclosure requirements consultations released by the the International Sustainability Standards Board (ISSB).

IFRS 8 ‘Segmental Reporting’ aligns external reporting with what is reported internally by management by identifying and reporting operating segments.

Our ‘Insights into IFRS 8’ series considers some key implementation issues and includes interpretational guidance in certain problematic areas.

In some situations judgement is required to determine how best to meet IFRS 8’s core principle in identifying operating segments.

Providing awareness of new Standards, Interpretations that have been issued and amendments made to existing ones.

This article focuses on reverse acquisitions within the scope of IFRS 3.

What is a reverse acquisition and how do you account for it?

This IFRS viewpoint introduces situations in which mergers and acquisitions are accounted for as reverse acquisitions and how they should be accounted for.

Introducing IFRS 8, key implementation issues and interpretational guidance in certain problematic areas.

Accounting for Cloud Computing or Software as a Service (SaaS) arrangements.

A summary of IFRS 13: Fair value measurement and detailed commentary on various aspects of applying this Standard from the perspective of a preparer working alongside a valuation expert.

The IFRS Interim Financial Statements illustrate a six month accounting period beginning on 1 January 2021.

Business combinations are infrequent transactions that are unique for each occurrence. IFRS 3 ‘Business Combinations’ contains the requirements and despite being fairly stable in the ten years since its been released, still provides challenges when accounting for these transactions in practice.

Mergers and acquisitions are becoming more and more common as entities aim to achieve their growth objectives. IFRS 3 ‘Business Combinations’ contains the requirements for these transactions, which are challenging in practice.

Acquisitions of businesses can take many forms and can have a fundamental impact of the acquirer’s operations, resources and strategies. These acquisitions are known as mergers or business combinations which should be accounted for using the requirements in IFRS 3 ‘Business Combinations’.