IFRS Bulletin 2019-01
13. Mai 2019
IFRS 9 Financial Instruments and IFRS 15 Revenue from Contracts with Customers are effective for periods beginning on or after 1 January 2018 and IFRS 16 Leases is effective as of 1 January 2019. These three new standards have broad impacts to entities in many industries, affecting financial position and financial performance along with financial metrics, gearing and KPIs.
IFRS 9, 15 and 16 may also affect business combinations that have occurred prior to the date of adoption of the new standards, as well as business combinations occurring after their respective effective dates. While fair value is the default measurement basis for assets and liabilities acquired in a business combination in the scope of IFRS 3, certain exemptions exist, which modify this requirement in certain cases. IFRS 3 Business Combinations was consequentially amended in certain respects to address specific areas affected by the three new standards.
Additionally, IFRS 9, 15 and 16 affect business combinations regardless of any consequential amendments as the basis for recording fundamental transactions have changed.
This IFRB illustrates certain areas that entities should consider both in the context of their adoptions of IFRS 9, 15 and 16, but also for future business combinations and how accounting may differ from past business combinations. For further information on IFRS 9, 15 and 16, please refer to BDO’s IFRS In Practice publication series.