Exposure Draft on Business Combination- Disclosures, Goodwill, and Impairment (Proposed amendments to IFRS 3 and IAS 36)

Comment Form

Exposure Draft on Financial Instruments with Characteristics of Equity - Proposed amendments to IAS 32, IFRS 7 and IAS 1

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Indian Accounting Standards (Ind AS) are based on the IFRS Standards issued by the International Accounting Standards Board (IASB) of IFRS Foundation. The IASB, before issuing the new/amendments to IFRS Standards, issues consultative documents [such as Discussion Paper (DP), Exposure Draft (ED) etc.] seeking public comments from across the globe. The Accounting Standards Board (ASB) of ICAI with the aim to provide an opportunity to the various stakeholders in India to raise their concerns at the initial International Standard-setting stage itself, invites comments on the consultative documents issued by the IASB. It also helps the Indian stakeholders to be aware of the preparations required for implementation of Ind AS in line with adhering to global timelines. Recently, the IASB has issued the following Exposure Draft for public comments: 

  • Exposure Draft on Business Combination- Disclosures, Goodwill, and Impairment (Proposed amendments to IFRS 3 and IAS 36)

The proposed amendments mainly relate to:

The disclosure requirements in IFRS 3: The IASB proposes to add new disclosure requirements that would result in an entity disclosing:

(a) Information about the performance of business combinations—specifically, information about the entity’s acquisition-date key objectives and related targets for a strategic business combination and the extent to which those key objectives and related targets are met in subsequent periods.

(b) Quantitative information about the synergies expected to arise from a business combination.

The impairment test in IAS 36:

The IASB proposes some targeted amendments to the requirements in IAS 36 relating to the calculation of value in use, the allocation of goodwill to cash-generating units and the disclosure requirements.

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Comments can be sent to: commentsasb@icai.in  



Secretary, Accounting Standards Board,  

The Institute of Chartered Accountants of India,  

ICAI Bhawan, Post Box No. 7100,   

Indraprastha Marg, New Delhi 110 002  

Further clarifications on this Exposure Draft may be sought by e-mail to asb@icai.in.