IFRS3(InternationalFinancialReportingStandard3)istitled"BusinessCombinations."Itestablishesprinciplesandrequirementsforhowanacquirerrecognizesandmeasuresinitsfinancialstatementstheidentifiableassetsacquired,theliabilitiesassumed,andanynon-controllinginterestintheacquiree.Thestandardalsoprovidesguidanceonrecognizinggoodwilloragainfromabargainpurchaseandrequiresdisclosurestoenableuserstoevaluatethenatureandfinancialeffectsofthebusinesscombination.IFRS3appliestoallbusinesscombinationsexceptthoseinvolvingentitiesundercommoncontrolorjointarrangements.Thestandardaimstoenhancetherelevance,reliability,andcomparabilityoffinancialinformationrelatedtobusinesscombinations.
