European Financial Reporting Advisory Group

Proactive - Business Combinations under Common Control

Description :

A working group was set-up by EFRAG in co-operation with OIC (Organismo Italiano di Contabilita' - Italian Standard Setter) with a view to issuing a discussion paper on this important subject. The objective of this Discussion Paper (henceforth referred to as the ´DP´) is to “set the scene” to stimulate the debate on this important subject at an early stage in the standard setting process, before the IASB formally issues a proposal on how to account for BCUCC.

Currently in IFRS 3 Business Combinations (henceforth referred to as ´IFRS 3´), BCUCC transactions are excluded from the scope of the standard. The lack of authoritative accounting guidance in IFRSs on this subject has created diversity in financial reporting practices.

The scope of the forthcoming discussion paper includes the consolidated and separate financial statements of the acquirer and makes clear that initial measurement of BCUCC for the Acquirer is the key issue in the project.

In October 2011, EFRAG issued a discussion paper asking for constituent feedback. The Discussion Paper is open for comment until 30 April 2012.

For information on the members of EFRAG's Advisory Panel on this project click here.

Documents :

No documents

Responsible :

Mario Abela

Working groups :

Proactive - Business Combination under Common Control Advisory Panel (BCUCC) -

Current Project Status :

Discussion Paper

Input for Status :

Discussion Paper

Efrag Output

No 'Efrag Output'

Comment Letters

14/05/2012 CL 22 - DASB (*.pdf)
08/05/2012 CL 7 - South African Institute of Chartered Accountants (*.pdf)
08/05/2012 CL 21 - Danske Revisorer - FSR (*.pdf)
08/05/2012 CL 20 - CNC (*.pdf)
08/05/2012 CL 19 - Korean Accounting Standards Board (*.pdf)
02/05/2012 CL 9 - Deloitte (*.pdf)
02/05/2012 CL 18 - UK ASB (*.pdf)
02/05/2012 CL 17 - Norwegian Accounting Standards Board (*.pdf)
02/05/2012 CL 16 - The Institute for the Accountancy Profession in Sweden (*.pdf)
02/05/2012 CL 15 - BDO (*.pdf)
02/05/2012 CL 14 - PwC (*.pdf)
02/05/2012 CL 13 - Commissione Per I Principi Contabili Nazionali Ed Internazionali (*.pdf)
02/05/2012 CL 12 - ICAEW (*.pdf)
02/05/2012 CL 11 - The Chartered Institute of Public Finance and Accountancy (*.pdf)
02/05/2012 CL 10 - ACCA (*.pdf)
29/04/2012 CL 8 - AFRAC (*.pdf)
26/04/2012 CL 6 - ESMA (*.pdf)
25/04/2012 CL 5 - Belgian Accounting Standards Board (*.pdf)
24/04/2012 CL 4 - Grant Thornton (*.pdf)
24/04/2012 CL 3 - AASB (*.pdf)
23/04/2012 CL 2 - Abfall Services AG (*.pdf)
17/04/2012 CL 1 - ANC (*.pdf)

Other Input

No 'Other Input'

News Items