BC80 The 2005 Exposure Draft identified four steps in applying the acquisition method, and it discussed the requirements for applying the acquisition method in terms of those steps:
(a) identifying the acquirer;
(b) determining the acquisition date;
(c) measuring the fair value of the acquiree; and
(d) measuring and recognising the assets acquired and the liabilities assumed.
BC80A In contrast, the revised standards indicate (paragraph 5 of the revised IFRS 3) that applying the acquisition method requires:
(a) identifying the acquirer;
(b) determining the acquisition date;
(c) recognising and measuring the identifiable assets acquired, liabilities assumed and any non‑controlling interest in the acquiree; and
(d) recognising and measuring goodwill or a gain from a bargain purchase.
BC81 The main changes to the list of steps in applying the acquisition method are to eliminate measuring the fair value of the acquiree as a whole and to add recognising and measuring goodwill as a separate
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