Viewpoints: Asset acquisition versus business combination (Oil and gas)

Learn more about how an acquirer of an oil and gas property determines whether it meets the definition of a business under IFRS 3 Business Combinations and associated accounting implications.

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How do you know whether to apply IFRS 3 Business Combinations to your company's acquired oil and gas project? Prepared by the Chartered Professional Accountants of Canada (CPA Canada), the Canadian Association of Petroleum Producers (CAPP) and the Explorers and Producers Association of Canada (EPAC), Viewpoints: Applying IFRS in the Oil and Gas Industry — Asset Acquisition Versus Business Combination focuses on how an acquirer determines whether the acquisition of a property should be accounted for as a business combination or as an asset acquisition under IFRS.