Page 302 - F1 Integrated Workbook STUDENT 2018

Chapter 18

4.3 IAS 27 Separate Financial Statements

IAS 27 Separate Financial Statements was reissued in May 2011 dealing only with
single entity financial statements of the parent, the consolidation provisions have
been transferred to IFRS 10 Consolidated Financial Statements.

4.4 IFRS 3 Business Combinations

IFRS 3 Business Combinations was originally issued in March 2004 replacing an
earlier standard. However, it was just the first stage in a longer term IASB project on
accounting for business combinations. The next stage culminated in the issue, in
January 2008, of the revised version of IFRS 3

IFRS 3 Business Combinations requires that entities should account for business
combinations by applying the acquisition method of accounting. The following two
chapters will concentrate on the acquisition method of accounting and the production
of consolidated financial statements.

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