IASB issues Discussion Paper on Business Combinations Under Common Control
03 December 2020
The IASB has published a discussion paper (DP) on how the Board might explore standard setting relating to business combinations under common control (BCUCC).
IFRS 3 Business Combinations set outs reporting requirements for mergers and acquisitions—referred to as business combinations in IFRS Standards. However, that Standard does not specify how to report transactions that involve transfers of businesses between companies within the same group. Such transactions are common in many countries around the world.
Comments on the discussion paper are open until 1 September 2021.