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

Section 34 Specialised Activities
Section PBE34.75 – Public Benefit Entity Combinations
PBE34.75Paragraphs PBE34.76 to PBE34.86 apply to public benefit entities entering into the following entity combinations which involve a whole entity or parts of an entity combining with another entity: [AMD 578]
 (a)combinations at nil or nominal consideration which are in substance a gift; and
 (b)combinations which meet the definition and criteria of a merger.
PBE34.76Combinations which are determined to be acquisitions shall be accounted for in accordance with Section 19 Business Combinations and Goodwill.
AMD 578

Amendment

Paragraph PBE34.75 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

PBE34.75 Paragraphs PBE34.76 to PBE34.86 apply only to public benefit entities for the following categories of entity combinations which involve a whole entity or parts of an entity combining with another entity:
Top