Insights into IFRS 3

Disclosures under IFRS 3: Understanding the requirements

Sarah Carroll
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A business combination often results in a fundamental change to an entity's operations. The nature and extent of the financial statement disclosures can significantly impact a user's ability to assess the effects of the acquisition on the consolidated financial statements. Accordingly, the disclosure requirements for business combinations under IFRS 3 ‘Business Combinations’ are quite extensive.

Our ‘Insights into IFRS 3’ series summarises the key areas of the Standard. In this article, we explain the general objectives of the disclosure requirements, discuss which business combinations require disclosure, and set out the minimum disclosure requirements of IFRS 3. The article also includes an illustrative business combination disclosure, and insights on certain disclosure areas . 

Disclosures under IFRS 3: Understanding the requirements
Insights into IFRS 3

Disclosures under IFRS 3: Understanding the requirements

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How we can help

We hope you find the information in this article helpful in giving you some insight into IFRS 3. If you would like to discuss any of the points raised, please speak to your usual Grant Thornton contact or visit www.grantthornton.global/locations to find your local member firm.