Exceptions to the recognition or measureExceptions to the recognition or measurement principles

Exceptions to the recognition or measurement principles

21 This Standard provides limited exceptions to its recognition and measurement principles. Paragraphs 22-31 specify both the particular items for which exceptions are provided and the nature of those exceptions. The acquirer shall account for those items by applying the requirements in paragraphs 22-31, which will result in some items being:

(a) recognised either by applying recognition conditions in addition to those in paragraphs 11 and 12 or by applying the requirements of other Australian Accounting Standards, with results that differ from applying the recognition principle and conditions.

(b) measured at an amount other than their acquisition-date fair values.