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IASB issues ED Definition of a Business and Accounting for Previously Held Interests (Proposed Amendments to IFRS 3 and IFRS 11)

The IASB published for public consultation the exposure draft Definition of a Business and Accounting for Previously Held Interests (Proposed Amendments to IFRS 3 and IFRS 11) in order to clarify both the definition of a business and how to account for previously held interests in a business, if acquiring control, or joint control, of that business.

The deadline for comments is 31 October 2016.

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