23 March 2020To:
Members of the Hong Kong Institute of CPAsAll other interested partiesINVITATION TO COMMENT ON IASB DISCUSSION PAPER DP/2020/1Business Combinations–Disclosures, Goodwill and ImpairmentComments to be received by 7 August 2020The Financial Reporting Standards Committee (FRSC) of the Hong Kong Institute ofCertified Public Accountants (Institute) is seeking comments on the IASB Discussion PaperDP/2020/1. The Discussion Paper is available on the Institute's website:
http://www.hkicpa.org.hk/en/standards-and-regulations/standards/financial-reporting/exposure-drafts/.Business combinations are often large transactions for the companies involved, and playa central role in the global economy. IFRS 3 Business Combinations specifies howcompanies must account for these transactions. To respond to concerns raised bystakeholders on its Post-Implementation Review (PIR) of IFRS 3, the InternationalAccounting Standards Board (IASB) has published a Discussion Paper on possibleimprovements to the information companies report about acquisitions of businesses andto the accounting for goodwill arising from such transactions.In particular, the Board is seeking comments on whether:
its suggested disclosure requirements for acquisitions would provide usefulinformation and are feasible;
stakeholders have new evidence or new arguments on how companies shouldaccount for goodwill; andother related topics, for example simplifications to the impairment test.The Discussion Paper summarises the IASB’s preliminary views on these topics. Afterconsidering feedback, the IASB will decide how to move forward with the project. If theIASB decides to amend IFRS Standards, it will publish an Exposure Draft.The FRSC invites your comments on the Discussion Paper by 7 August 2020 to allow yourcomments to be considered in developing its response to the IASB. Comments should besupported by specific reasoning and should be submitted in written form.Comments may be sent by mail, fax or e-mail to:
Standard Setting DepartmentHong Kong Institute of Certified Public Accountants37th Floor, Wu Chung House213 Queen’s Road EastWanchai, Hong KongFax number (+852) 2865 6776E-mail: commentletters@hkicpa.org.hkComments will be acknowledged and may be made available for public review unlessotherwise requested by the respondent.
Invitation to Comment on IASB Discussion Paper DP/2020/1 Business Combinations–Disclosures, Goodwill and Impairment
下载原件23 March 2020To:
Members of the Hong Kong Institute of CPAsAll other interested partiesINVITATION TO COMMENT ON IASB DISCUSSION PAPER DP/2020/1Business Combinations–Disclosures, Goodwill and ImpairmentComments to be received by 7 August 2020The Financial Reporting Standards Committee (FRSC) of the Hong Kong Institute ofCertified Public Accountants (Institute) is seeking comments on the IASB Discussion PaperDP/2020/1. The Discussion Paper is available on the Institute's website:
http://www.hkicpa.org.hk/en/standards-and-regulations/standards/financial-reporting/exposure-drafts/.Business combinations are often large transactions for the companies involved, and playa central role in the global economy. IFRS 3 Business Combinations specifies howcompanies must account for these transactions. To respond to concerns raised bystakeholders on its Post-Implementation Review (PIR) of IFRS 3, the InternationalAccounting Standards Board (IASB) has published a Discussion Paper on possibleimprovements to the information companies report about acquisitions of businesses andto the accounting for goodwill arising from such transactions.In particular, the Board is seeking comments on whether:
its suggested disclosure requirements for acquisitions would provide usefulinformation and are feasible;
stakeholders have new evidence or new arguments on how companies shouldaccount for goodwill; andother related topics, for example simplifications to the impairment test.The Discussion Paper summarises the IASB’s preliminary views on these topics. Afterconsidering feedback, the IASB will decide how to move forward with the project. If theIASB decides to amend IFRS Standards, it will publish an Exposure Draft.The FRSC invites your comments on the Discussion Paper by 7 August 2020 to allow yourcomments to be considered in developing its response to the IASB. Comments should besupported by specific reasoning and should be submitted in written form.Comments may be sent by mail, fax or e-mail to:
Standard Setting DepartmentHong Kong Institute of Certified Public Accountants37th Floor, Wu Chung House213 Queen’s Road EastWanchai, Hong KongFax number (+852) 2865 6776E-mail: commentletters@hkicpa.org.hkComments will be acknowledged and may be made available for public review unlessotherwise requested by the respondent.