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- Title
CONSIDERATIONS REGARDING IFRS 3 -- BUSINESS COMBINATION.
- Authors
Veronica, Grosu; Petrică, Horga
- Abstract
IFRS 3 describes and defines the accounting treatment for the Business Combination, so- called method "purchase method" that imposes the purchase price allocation to the assets and the liabilities identifiable by the society that makes the acquisitions object and the accounting of the operations that take place. Business combination means a fusion of distinct societies that are in one economic unity or derived from the fusion of one company with another one, either by obtaining the control over the net assets and over the administration of a company. This standard defines "business" as a whole system of tangible, intangible and financial assets involved in the development of an economic activity; if a company acquires a set of assets or even another entity, but it does not respect the definition of "business", the transaction cannot be accounted as a Business Combination.
- Subjects
ROMANIA; PURCHASING of business enterprises; PARTNERSHIP buyouts; PURCHASING; ASSETS (Accounting); LIABILITIES (Accounting); CORPORATE merger accounting; FINANCIAL statements; FINANCIAL performance; BUSINESS enterprises
- Publication
Annals of the University of Oradea, Economic Science Series, 2008, Vol 17, Issue 3, p1250
- ISSN
1222-569X
- Publication type
Article