Accounting Standards and Guidance

FRC Financial Reporting Standards (FRSs)

UK/Irish accounting framework (effective for periods beginning on or after 1 Jan 2015)

FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland

Business Combinations and Goodwill
Section 19 – Group reconstructions
19.27Group reconstructions may be accounted for by using the merger accounting method provided:
 (a)the use of the merger accounting method is not prohibited by company law or other relevant legislation;
 (b)the ultimate equity holders remain the same, and the rights of each equity holder, relative to the others, are unchanged; and
 (c)no non-controlling interest in the net assets of the group is altered by the transfer. [AMD 441]
AMD 441

Amendment

Paragraph 19.27(c) amended by Amendments to FRS 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland – Triennial review 2017 – Incremental improvements and clarifications (issued December 2017)

Effective date

01/01/2019

Previous text

(c) no non-controlling interest in the net assets of the group is altered by the transfer.
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