Ongoing disclosures about business acquisitions, or: it’s all going even better than we hoped!

At a recent meeting, the IASB’s Capital Markets Advisory Committee discussed a few issues relating to goodwill and impairment. In the accompanying agenda paper, staff indicated that they’re considering recommending some additions to the existing disclosure requirements in IFRS 3, focused on assisting users to better understand “the strategic rationale for and the key objectives…

Business combination brain freeze!

A European example of complexities in applying IFRS 3 Here’s another of the issues arising from extracts of enforcement decisions issued in the past by the European Securities and Markets Authority (ESMA) (for more background see here); this is from their 19th edition: The issuer owned Business E whose net assets amounted to CU 1.3M…

Form it like a pro!

The strange, self-contained world of pro forma financial statements… We recently discussed the CSA’s current consultation paper on reducing the “regulatory burden” on reporting issuers. Among much else, the paper floats the possibility of removing the requirement to prepare pro forma statements as part of a business acquisition report filed under Canadian securities regulations. Well, in…