PFRS 3 must be applied when accounting for business combinations, but does not apply to: i. Formation of a joint arrangement ii. The acquisition of an asset or group of assets that is not a business although general guidance is provided on how such transactions should be accounted for ii. Combination of entities or businesses under common control iv. Acquisitions by an investment entity of a subsidiary that is required to be measured at fair value through profit or loss under PFRS 10 Consolidated Financial Statements v. Mutual entities vi. Not-for-profit organizations * O O , i, , v, and vi O L I, ii, and iv O , i, i, v, and v O , i, i, iv, v, and iv
PFRS 3 must be applied when accounting for business combinations, but does not apply to: i. Formation of a joint arrangement ii. The acquisition of an asset or group of assets that is not a business although general guidance is provided on how such transactions should be accounted for ii. Combination of entities or businesses under common control iv. Acquisitions by an investment entity of a subsidiary that is required to be measured at fair value through profit or loss under PFRS 10 Consolidated Financial Statements v. Mutual entities vi. Not-for-profit organizations * O O , i, , v, and vi O L I, ii, and iv O , i, i, v, and v O , i, i, iv, v, and iv
Auditing: A Risk Based-Approach (MindTap Course List)
11th Edition
ISBN:9781337619455
Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Chapter6: Audit Evidence
Section: Chapter Questions
Problem 15CYBK
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