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An ‘In Brief’ article has been published by the International Accounting Standards Board (IASB) to explain two major decisions that have been made in the Business Combinations—Disclosures, Goodwill and Impairment project.

Rika Suzuki, IASB member, discusses the reasons for the IASB’s decisions about how companies could disclose better information about mergers and acquisitions (business combinations), and whether to retain the impairment-only model to account for goodwill or to explore reintroducing amortisation of goodwill.

Business Combinations—Disclosures, Goodwill and Impairment is now a standard-setting project, which involves the preparation of an exposure draft that contains proposals of amendments.

A Japanese translation of the In Brief article is also available.

Followable tags

IFRS Accounting Standards development
IFRS 3 Business Combinations
IAS 36 Impairment of Assets