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 iii. 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 organization
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 iii. 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 organization
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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
iii. 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
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
iii. 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
i, ii, iii, iv, v, and iv
i, ii, iii, and iv
i, ii, iii, iv, and vi
i, ii, iii, iv, and v
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