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Mergers and acquisitions (business combinations) can have a fundamental impact on the acquirer’s operations, resources and strategies. For most entities such transactions are infrequent, and each is unique. MFRS 3 ‘Business Combinations’ sets out the accounting requirements for these transactions, which can be challenging to apply in practice. The Standard itself has been in place for more than ten years now and has undergone a post implementation review by the Malaysian Accounting Standards Board (MASB). It is one of the most referred to Standards currently on issue.
Our ‘Insights into MFRS 3’ series summarises the key areas of the Standard, highlighting aspects that are more difficult to interpret and revisiting the most relevant features that could impact your business.
MFRS 3 has specific guidance on how some items are recognised and measured. This guidance is described as a series of exceptions to the general recognition and measurement principles (as discussed in our articles ‘Insights into MFRS 3 – Recognition principle’ and ‘Insights into MFRS 3 – How should the identifiable assets and liabilities be measured?’ respectively).
This article summarises this specific guidance and provides examples to illustrate its application.
Specific recognition and measurement provisions
Read our article to understand more.
How we can help
We hope you find the information in this article helpful in giving you some insight into MFRS 3. If you would like to discuss any of the points raised, please do not hesitate to contact us.
