Determine how the control requirements under IFRS will apply to interests in associates and joint ventures and examine the impact of the reporting requirements on the comparability of financial statements.

Description

Assignment 3: IFRS Reporting for Business Combinations, Joint Ventures and Interests in Associates

Business combinations, generally referred to as mergers and acquisitions, are important in global capital markets. The reporting requirements for investments in associates, joint ventures and business combinations are dependent upon control. The objective of IFRS is to provide useful information to users about the economic entity under the control of a parent and its management.

Write a five to seven (5-7) page paper in which you:

-Evaluate the current control requirements in business combinations for filing consolidated returns under IFRS.

-Speculate how the changes for reporting non-controlling (minority) interest will impact valuation.

-Assess the significance of the changes reflected in IFRS 10 on reporting requirements for business combinations.

-Identify problems that can be eliminated with special purpose entity reporting.

-Determine how the control requirements under IFRS will apply to interests in associates and joint ventures and examine the impact of the reporting requirements on the comparability of financial statements.

-Identify the significant issues surrounding the capitalization of Borrowing Costs under IAS 23.

-Use at least three (3) quality academic resources in this assignment. Note: Wikipedia and other Websites do not qualify as academic resources.

Your assignment must follow these formatting requirements:

-Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.

-Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.

The specific course learning outcomes associated with this assignment are:

-Apply specific IFRS principles to critical accounting transactions.

-Analyze how IFRS concepts are applied to business combinations and consolidated financial statements as required for multinational reporting.

-Use technology and information resources to research IRFS.

-Write clearly and concisely about IFRS using proper writing mechanics.

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