AASB 3 establishes principles and requirements for how the acquirer:
A)determines what information to disclose to enable users of the financial statements to evaluate the nature and financial effects of the business combination
B)recognises and measures in its financial statements the identifiable assets acquired,the liabilities assumed and any non- controlling interest in the acquiree
C)recognises and measures the goodwill acquired in the business combination or a gain from a bargain purchase
D)all of the above

Question

Quizplus · Accepted Answer

AASB 3 establishes principles and requirements for all of the above- determining what information to disclose, recognising and measuring identifiable assets, liabilities and non-controlling interest, as well as recognising and measuring goodwill or a gain from a bargain purchase.

AASB 3 Establishes Principles and Requirements for How the Acquirer