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These acquisitions are sometimes referred to as mergers or business combinations, and the accounting and disclosure requirements are set out in IFRS 3 ‘Business Combinations’.
Our ‘Insights into IFRS 3’ series summarises the key areas of the Standard, highlighting aspects that are challenging to interpret and apply in practice. This article follows on from our published article ‘Insights into IFRS 3 – Identifying the acquirer’ and presents guidance for an area which is difficult in practice – reverse acquisitions.