Synopsis:
This module provides an overview of the application of the acquisition method of SFRS(I) 3 / FRS 103 Business Combinations on acquisitions of new subsidiaries. The module provides practical insights into determining goodwill or gains from a bargain purchase, and recognizing and measuring the fair value of identifiable net assets and non-controlling interests as at acquisition date.
The content is covered in two parts.
In this Part 1, it will focus on key concepts related to business combinations and acquisitions of subsidiaries.
Part 2 of the module, Unlocking SFRS(I) 3 Practical Insights into Business Combinations (Part TWO) : A Comprehensive Illustration, features a comprehensive illustration of the application of the acquisition method in consolidated financial statements to give a good visualisation of the business combination process. The illustration will also feature two useful analytical checks on non-controlling interests and consolidated retained earnings.
Intended For:
The recording content will be useful to accounting and auditing professionals in developing and enhancing competencies in applying the acquisition method and auditing the effects respectively.
As the acquisition method has a significant impact on the statement of financial position and future income statements, the module will contribute insights to directors and business owners to better understand the implications of their acquisition decisions.
Competency Mapping:
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