Accounting for Mergers, Acquisitions and Group Reorganisations in terms of AASB 3

Description

AASB 3 Business Combinations applies to the acquisition of a business. However, AASB 3 does not apply to the acquisition of assets and does not necessarily apply to the acquisition of business under common control. Entities also needs to consider the potential of reverse acquisitions and the appropriate accounting treatment.

In this Webinar we start off by discussing when and under which circumstances AASB 3 should be applied to a transaction, i.e. an acquisition, a merger or a reorganisation. We also discuss the appropriate accounting treatment if the application of AASB 3 is not appropriate.

AASB 3 requires business combinations within the scope of AASB 3 to be accounted for using the acquisition method. This webinar will provide a high level overview of the detailed requirements of AASB 3 in relation to:
• Determining the fair value of the assets acquired and liabilities assumed;
• Determining the fair value of the consideration;
• Determining whether to use the full goodwill or partial goodwill method; and
• Recognising the goodwill and/or bargain purchase on acquisition.

Webinar Learning Outcomes:
• Explain when AASB 3 should be applied to a transaction;
• Explain the appropriate accounting treatment, including journal entries, if a transaction is outside the scope of AASB 3; and
• Explain the application of the acquisition method to business combinations within the scope of AASB 3.

Suited to:
• All organisations who enter into acquisitions, reorganisations and/or mergers;
• Consultants and tax practitioners that provide advice on acquisitions, reorganisations and/or mergers; and
• Preparers and auditors of financial reports.

Presenter Bio:
Aletta Boshoff is a Partner & National Leader, for IFRS Advisory at BDO Australia. She has over 25 years’ experience in financial reporting and accounting, including IFRS. Aletta prides herself on her technical excellence, approachability, and the ability to solve problems practically. Aletta loves accounting and accounting standards, but she is also of the view that it's only when you try and apply that knowledge that you are really challenged and that it is only then that you fully appreciate the nuances of IFRS.

In particular, Aletta takes great pride in her ability to apply a wealth of technical expertise to real-world business situations. She works hard to ensure she is working with her clients, involving them at every step of the journey. She helps them to understand how she came to a recommendation, so that they can test any assumptions she has made and together they can come to the best IFRS solution possible.

Your webinar purchase includes:
• the PowerPoint slide deck as a PDF workbook
• any supporting documentation required
• access to stream the Webinar Recording multiple times
• an opportunity to participate in Q&A.

Further Research in CCH iKnow

AASB 3 Business Combinations
Ruling RDR 2011/12
Ruling RDR 2010/11
Ruling RDR 2009/10

The practical application of AASB 3 is still problematic. Are you getting it right?

  • Webinar Recording
    • PD hours: 1
    Stream this recording multiple times at your convenience.
    • $180.00 incl. GST

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