Global

Details

  • Service: Audit, IFRS
  • Date: 5/7/2014

Amendments answer long-standing question 

There has long been a question over whether the business combinations standard applies when an entity acquires an interest in a joint operation that meets the definition of a business.

In response to the diversity in practice, the IASB has issued Accounting for Acquisitions of Interests in Joint Operations (Amendments to IFRS 11). These amendments require business combination accounting to be applied to acquisitions of interests in a joint operation.


Read our In the Headlines to find out more.

Business combination accounting for interests in a joint operation (2014/07)

Feature image
In response to the diversity in practice, in May the IASB issued Accounting for Acquisitions of Interests in Joint Operations (Amendments to IFRS 11).

© 2014 KPMG IFRG Limited is a UK company, limited by guarantee. All rights reserved. KPMG IFRG Limited, registered in England No 5253019. Registered office: 8 Salisbury Square, London, EC4Y 8BB

 

Share this

Share this

IFRS Hot Topics

IFRS topics
Learn about the latest IFRS developments in insurance, leases, revenue, financial instruments and banking.