On 29 January 2021, the International Accounting Standards Board (IASB) in conjunction with the European Accounting Association (EAA) and the European Financial Reporting Advisory Group (EFRAG) held an IFRS-EAA Virtual Workshop that provide an overview of the IASB’s Business Combinations under Common Control (BCUCC) Discussion Paper (DP) and EFRAG’s developing views for consultation on that DP. Attended by roughly 200 participants, the workshop covered issues including: a) When to apply the acquisition method and a book-value method to a BCUCC in the financial statements of the receiving entity; b) how to apply the acquisition method; and c) how to apply a book-value method. Each section was presented by IASB and EFRAG staff and accompanied by an academic reflection by Martin Hoogendoorn, followed by questions and comments from the audience, on which IASB Board member Ann Tarca and Patricia McBride from EFRAG added comments.
Please watch the video recording here.
I want to thank all participants for their contributions, and I am looking forward to welcoming you to the next IFRS-EAA Virtual Workshop!
Thorsten Sellhorn, EAA President 2019-2021