Insights into MFRS 3

Disclosures under MFRS 3: Understanding the requirements

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A business combination often results in a fundamental change to an entity’s operations. The nature and extent of the financial statement disclosures have a significant bearing on a user’s ability to assess the effects of the acquisition on the consolidated financial statements. Accordingly, the disclosure requirements for business combinations under MFRS 3 ‘Business Combinations’ are quite extensive.
Contents

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.

This article covers MFRS 3’s disclosure requirements. An illustrative disclosure is provided at the end of this article, including insights on certain disclosure areas. Please be aware that these disclosures are not meant to be exhaustive of all scenarios, and readers should refer to the detailed requirements of MFRS 3 when preparing their disclosures.

Insights into MFRS 3

Insights into MFRS 3

Disclosures under MFRS 3: Understanding the requirements

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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 speak to your usual Grant Thornton contact.