• IAS 22, Business Combinations

History

• Issued: July 2000
• Effective date: Annual periods ending on or after 15 July 2000
• Superseded by and incorporated into IFRS 3 effective 31 March 2004.

In very limited circumstances, IAS 22 permits the subsequent recognition of identifiable assets and liabilities that had not been recognised in the original accounting for an acquisition under the purchase method or adjustment of the amounts initially assigned to identifiable assets and liabilities to reflect additional evidence which has become available. SIC 22 indicates that the adjustment made in such circumstances should be calculated as if the newly assigned values had been used from the date of the acquisition. In some cases there will also be an effect on goodwill or negative goodwill. SIC 22 also addresses the presentation and disclosure of such an adjustment.