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Acquisition of Marne
All business combinations within the scope of IFRS 3 ‘Business Combinations’ must be accounted for using the purchase
method. (IFRS 3.14) The pooling of interests method is prohibited. Under IFRS 3, an acquirer must be identified for all
business combinations.What is meant by pooling of interests?
It’s an old-fashioned way, no longer acceptable, of consolidating two similar sized companies. It was also called “merger accounting” but it’s not in your syllabus – because it’s no longer allowed!
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