On 21 April 2020, Amendments to IFRS 3 Definition of business were endorsed by the European Commission for use in the European Union. The EU effective date is the same as the IASB’s effective date.
Amendments to IFRS 3 Business combinations were issued in October 2018 aimed at resolving the difficulties that arise when an entity determines whether it has acquired a business or a group of assets.
The amendments are effective for business combinations for which the acquisition date is on or after the beginning of the first annual reporting period beginning on or after 1 January 2020.
We informed you in detail about these amendments in the Accounting News in December 2018.
Seminars, webcasts, business breakfasts and other events organized by Deloitte.
