1. Accounting, Auditing, Actuarial
  2. IFRS Foundation & IASB
  3. International Financial Reporting Standards (IFRSs)
  4. 2020
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  1. IFRS 3: Business Combinations
  2. IFRS 3: Basis for Conclusions
  3. Applying the acquisition method (paras. BC80-BC400)
  4. Recognising and measuring the identifiable assets acquired, the liabilities assumed and any non‑controlling interest in the acquiree (paras. BC111-BC311)
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Version date: 12 May 2020 - onwards
  Version 2 of 2    

Recognising and measuring the identifiable assets acquired, the liabilities assumed and any non‑controlling interest in the acquiree (paras. BC111-BC311)

Recognition

BC111 The revised standards’ recognition principle is stated in paragraph 10 of the revised IFRS 3. Paragraphs BC112-BC130 discuss the recognition conditions the acquirer is to use in applying the recognition principle. The revised standards also provide guidance for recognising particular assets and liabilities, which is discussed in paragraphs BC131-BC184. The revised standards’ guidance on classifying and designating assets acquired and liabilities assumed is discussed in paragraphs BC185-BC188, and the limited exceptions to the recognition principle provided in the revised standards are discussed in paragraphs BC263-BC303.

Conditions for recognition

BC112 The boards decided that to achieve a reasonably high degree of consistency in practice and to resolve existing inconsistencies, the revised standards should provide guidance on applying the recognition principle. That guidance emphasises two fundamental conditions. To measure and recognise an item as part of applyi

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