IASB begins the Post-implementation Review of Business Combinations Standard
The International Accounting Standards Board (IASB) has begun its Post-implementation Review of IFRS 3 Business Combinations. The Business Combinations Standard sets out how an entity should account for the acquisition of another entity. It was developed in two stages: the first in 2004 and the second in 2008. The IASB has confirmed that this Post-implementation Review will look at the changes introduced in both stages, including changes to the presentation of consolidated financial statements that were made at the same time.