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Abstract:
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On 1st July 2009 the Danish public entities will start using the updated international
accounting standard for a business combination, IFRS 3 (2008), issued by IASB. By issuing
IFRS 3 (2008), the IASB finished the second phase of the joint project on business
combinations and made changes in the accounting treatment of business combinations. One
major impact of the updated standard is a changing to become more adapted to the valuebased
principles, which leads to an increased focus on recognition in the balance sheet and
measuring real values.
At the same time intangible assets, which accounting treatment are settled in IAS 38, are
becoming more and more significant in today’s knowledge-based world, and especially
image, customer relationships, research and development is important to many companies
and their future income.
These changes related to the accounting treatment of business combination and the
significant value of intangible assets make the measurement of intangible assets acquired in
business takeovers according to IFRS interesting.
In this thesis the differences between the current IFRS 3 (2004) and the updated IFRS 3
(2008) with focus on the identification and valuation process for recognition of intangible
asset in business takeovers, are discussed and evaluated. In discussing the accounting
treatment of intangible assets in business takeovers, the qualitative characteristics of
financial statements and the users’ information needs of the consolidated financial statement
is taken into consideration to evaluate, whether IASB has changed their view on which
primary users of the consolidated financial statement are. |
