IFRS 3 Business combinationForums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › IFRS 3 Business combinationThis topic has 1 reply, 2 voices, and was last updated 4 years ago by P2-D2.Viewing 2 posts - 1 through 2 (of 2 total)AuthorPosts August 13, 2019 at 11:02 am #527332 researcher1MemberTopics: 36Replies: 6☆At time of acquisition of a subsidiary, why don’t we recognize a contingent asset of the subsidiary. I know this is done for a contingent liability but why not for an asset?Please say sir. August 14, 2019 at 10:10 am #527538 P2-D2KeymasterTopics: 4Replies: 6875☆☆☆☆☆Hi,It isn’t prudent to recognise an asset so it isn’t recognised in the group accounts.ThanksAuthorPostsViewing 2 posts - 1 through 2 (of 2 total)You must be logged in to reply to this topic.Log In Username: Password: Keep me signed in Log In