CONTENTS

COMPILATION DETAILS

Comparison With IFRS 3

Accounting Standard

AASB 3 Business Combinations

Paragraphs

Objective 1

Application Aus1.1 – Aus1.6

Reduced disclosure requirements Aus1.7 – Aus1.9

Scope 2 – 2A

Identifying a business combination 3

The acquisition method 4 – 5

Identifying the acquirer 6 – 7

Determining the acquisition date 8 – 9

Recognising and measuring the identifiable assets acquired, the liabilities assumed and any non-controlling interest in the acquiree

Recognition principle 10

Recognition conditions 11 – 14

Classifying or designating identifiable assets acquired and liabilities assumed in a business combination15 – 17

Measurement principle 18 – 20

Exceptions to the recognition or measurement principles 21

Exception to the recognition principle

Contingent liabilities 22 – 23

Exceptions to both the recognition and measurement principles

Income taxes 24 – 25

Employee benefits 26

Indemnification assets 27 – 28

Exceptions to the measurement principle

Reacquired rights 29

Share-based payment transactions 30

Assets held for sale 31

Recognising and measuring goodwill or a gain from a bargain purchase 32 – 33

Bargain purchases 34 – 36

Consideration transferred 37 – 38

Contingent consideration 39 – 40

Additional guidance for applying the acquisition method to particular types of business combinations

A business combination achieved in stages 41 – 42

A business combination achieved without the transfer of consideration 43 – 44

Measurement period 45 – 50

Determining what is part of the business combination transaction 51 – 52

Acquisition-related costs 53

Subsequent measurement and accounting 54

Reacquired rights 55

Contingent liabilities 56

Indemnification assets 57

Contingent consideration 58

Disclosures 59 – 63

Restructures of local governments Aus63.1 – Aus63.9

Effective date and transition

Effective date 64B – 64L

Transition 65 – 66

Income taxes 67

Reference to AASB 9 67A