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IAS proposal on business combinations.

The International Accounting Standards Committee 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 30, 1992. For a copy of the ED, write the International Accounting Standards Committee, 167 Fleet Street, London EC4A 2ES, England, or fax + 44 (071) 353-0562.
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Title Annotation:International Accounting Standards Committee
Publication:Journal of Accountancy
Article Type:Brief Article
Date:Nov 1, 1992
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