01 Feb 2017 1 min read
Overview
The Grant Thornton International IFRS team has published IFRS Viewpoint – Common control business combinations.
The IFRS Viewpoint series provides insights on applying IFRS in challenging situations. Each edition will focus on an area where the standards have proved difficult to apply or lack guidance.
This edition considers how to account for a common control business combination.
The issue
How should an entity account for a business combination involving entities under common control? This is an important issue because common control business combinations occur frequently but are excluded from the scope of IFRS 3 – the IFRS standard on business combination accounting.
Resource
The publication IFRS Viewpoint – Common control business combinations follows this Advisor alert
Learn how to determine the transaction price under Step 3 of IFRS 15's five-step revenue recognition model, including key considerations for customer contracts and financial reporting.
Share-based payments have become increasingly popular over the years, with many entities using equity instruments or cash and other assets based on the value of equity instruments as a form of payment to directors, senior management, employees, and other suppliers of goods and services.
Share-based payment transactions with non-employees involve compensating parties other than employees, such as suppliers of goods and services.
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