Hi,
Hope you are enjoying good health and spirit.
Question is that:
A company A has acquired 90 % shareholding of company B.
Company A and B, both shareholder are same people. Borad of directors are also same. Are this acquisition out of scop of IFRS 3 ? Are these transactions are common control transactions ?
Common control transaction - IFRS 3
Re: Common control transaction - IFRS 3
what are your doubts here? I mean, what could indicate that this is *not* a common control transaction despite the fact that shareholders of both entities are the same?
Re: Common control transaction - IFRS 3
you could still use ifrs 3 if you want
Re: Common control transaction - IFRS 3
I have doubt, only merger or restructuring are common control transactions.
I have not deal such kind of transaction in my work experience.
I have not deal such kind of transaction in my work experience.
Re: Common control transaction - IFRS 3
yes, it's a business combination under common control and thus scoped out of IFRS 3
read more: https://cdn.ifrs.org/content/dam/ifrs/p ... .pdf?la=en
read more: https://cdn.ifrs.org/content/dam/ifrs/p ... .pdf?la=en