IAS proposal on business combinations.The International Accounting Standards Committee International Accounting Standards Committee was founded in June 1973 in London and replaced by the International Accounting Standards Board on April 1, 2001. It was responsible for developing the International Accounting Standards and promoting the use and application of these issued for comment International Accounting Standard Exposure Draft 45, Business Combinations. The proposed statement covers accounting for one enterprise's acquisition of another (including when an acquirer cannot be identified). It prescribes accounting for determining the acquisition's cost, allocating cost over identifiable assets and liabilities of the enterprise being acquired, along with accounting for resulting goodwill (or negative goodwill). Other issues covered include determining the minority interest amount, accounting for acquisitions that occur over a period of time, subsequent changes in the cost of acquisition or in the identification of assets and liabilities and the disclosures required. Comments are due by November November: see month. 30, 1992. For a copy of the ED, write the International Accounting Standards Committee, 167 Fleet Street, London London, city, Canada London, city (1991 pop. 303,165), SE Ont., Canada, on the Thames River. The site was chosen in 1792 by Governor Simcoe to be the capital of Upper Canada, but York was made capital instead. London was settled in 1826. EC4A 2ES, England England, the largest and most populous portion of the United Kingdom of Great Britain and Northern Ireland (1991 pop. 46,382,050), 50,334 sq mi (130,365 sq km). It is bounded by Wales and the Irish Sea on the west and Scotland on the north. , or fax + 44 (071) 353-0562. |
|
||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion