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Practical Application Examples For Special Cases In The Scope Of Consolidation According To Ifrs

Author

Listed:
  • Markus Hafele

    (Hochschule Pforzheim University, Federal Republic of Germany)

  • Celine Frei

    (Hochschule Pforzheim University, Federal Republic of Germany)

Abstract

Business combinations under common control are “business combinations in which all of the combining entities or businesses are ultimately controlled by the same party or parties both before and after the business combination, and that control is not transitory” (IFRS 3.B1). These issues often are undertaken for many different reasons to achieve purposes that vary from business combinations of entities not under common control, i. e. reorganise group activities with an aim to achieve synergies or to obtain tax efficiency within the group. The European Financial Reporting Advisory Group explains that the often complex structures and arrangements to effect such changes raise considerable challenges for financial reporting. International Financial Reporting Standards (IFRS) are currently silent on how the entity receiving a business under common control should account for the transaction.

Suggested Citation

  • Markus Hafele & Celine Frei, 2014. "Practical Application Examples For Special Cases In The Scope Of Consolidation According To Ifrs," Interdisciplinary Management Research, Josip Juraj Strossmayer University of Osijek, Faculty of Economics, Croatia, vol. 10, pages 501-512.
    • Handle: RePEc:osi:journl:v:10:y:2014:p:501-512
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    More about this item

    Keywords

    accounting; tax efficiency; financial reporting; International Financial Reporting Standards (IFRS);
    All these keywords.

    JEL classification:

    • H21 - Public Economics - - Taxation, Subsidies, and Revenue - - - Efficiency; Optimal Taxation
    • H25 - Public Economics - - Taxation, Subsidies, and Revenue - - - Business Taxes and Subsidies
    • M4 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting

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