CTHRepealedLegislation
AASB 3 - Business Combinations - March 2008
Identifying a business combinationIdentifying a business combination
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Identifying a business combination
3 An entity shall determine whether a transaction or other event is a business combination by applying the definition in this Standard, which requires that the assets acquired and liabilities assumed constitute a business. If the assets acquired are not a business, the reporting entity shall account for the transaction or other event as an asset acquisition. Paragraphs B5-B12 provide guidance on identifying a business combination and the definition of a business.