Effective date of business combination

Suppose Entity A acquires Entity B in a business combination and all the considerations have been completed by 31 December 2007 except that government approval which was still pending as at year end. Should entity A consolidate Entity B as at 31 December 2007? Regards, Nyasha I believe the answer lies in the issue of [...]

By |August 28th, 2008|BUSINESS COMBINATION|0 Comments

Interest income recognition usingeffective rate

If an institution is recognizing income by using flat rate method, but IFRS requires to recognize by using effective rate method. My questions are: a) policy remains but financial statements it should be based on effective rate. Is it? b) How to convert portfolio by using effective rate.?     asim I don't think so, [...]

By |August 28th, 2008|IFRS|0 Comments