IFRS 3 - Business combinations Flashcards
1
Q
business
A
an integrated set of activities and assets that is capable of being conducted and managed for the purpose of providing a return in the form of dividends, lower costs or other economic benefits directly to investors or other owners, members or participants
2
Q
business combinations
A
a transaction or other event in which an acquirer obtains control of one or more businesses
3
Q
acquirer
A
the entity that obtains control of the acquiree
4
Q
acquiree
A
the business/businesses that the acquirer obtains control of in a business combination
5
Q
goodwill
A
- Represents the difference between the price paid for the subsidiary less the fair value of the net assets acquired
- An intangible non-current asset, subjected to annual impairment review
6
Q
non-controlling interest
A
-Represents the equity interest in a subsidiary not attributable to the controlling interest (i.e. parent)
