Enrolment

Overview
The purpose of this course is to familiarize you with the concepts underlying IFRS 3, Business Combinations, and provide an understanding of how to apply those concepts in practice.

Topic discussed

• Underlying concepts, scope, and scope exceptions of the standard.
• The definition of a business.
• The acquisition method.
• The form and measurement of consideration.
• Fair value.
• Noncontrolling interests.
• Goodwill.

Learning Objectives

• Identify when a transaction is a business combination.
• Apply the acquisition method of accounting for a business acquisition.
• Recognize how to subsequently account for both goodwill and negative goodwill.
• Explain how the amount of consideration transferred is determined, including contingent consideration.
• Recall how contingent liabilities and intangible assets are treated.