同一控制的香港会计准则的重要参考HKFRSs-AG5

MergerAccountingforCommonControlCombinationsAccountingGuideline5AG5IssuedNovember2005EffectiveuponissueMERGERACCOUNTINGFORCOMMONCONTROLCOMBINATIONS2AG5ContentsParagraphsACCOUNTINGGUIDELINE5MERGERACCOUNTINGFORCOMMONCONTROLCOMBINATIONSINTRODUCTION1-5THEPRINCIPLES6-9THEPROCEDURES10-13ACCOUNTINGPERIODCOVEREDBYANEWLYFORMEDPARENT14-15DISCLOSURESINADDITIONTOTHOSEREQUIREDBYAPPLICABLEHKFRSs16-19EARNINGSPERSHARE20APPENDIX-EXAMPLEMERGERACCOUNTINGFORCOMMONCONTROLCOMBINATIONS3AG5HongKongAccountingGuideline5MergerAccountingforCommonControlCombinationsIntroduction1.Startingfrom1January2005,HKFRS3BusinessCombinationsappliestoallbusinesscombinationsexceptwhereacombinationisspecificallyexcludedfromitsscope.ForthosebusinesscombinationsoutsidethescopeofHKFRS3,forexample,businesscombinationsinvolvingentitiesorbusinessesundercommoncontrol,thereisnospecificaccountingstandardaddressingtheappropriateaccountingtreatment.2.HKFRS3definesabusinesscombinationinvolvingentitiesorbusinessesundercommoncontrolas“abusinesscombinationinwhichallofthecombiningentitiesorbusinessesareultimatelycontrolledbythesamepartyorpartiesbothbeforeandafterthebusinesscombination,andthatcontrolisnottransitory”.SuchbusinesscombinationsarereferredtohereafterinthisAccountingGuidelineas“commoncontrolcombinations”todistinguishthemfromotherbusinesscombinationswhichfallwithinoroutsidethescopeofHKFRS3.3.HKAS8AccountingPolicies,ChangesinAccountingEstimatesandErrors,paragraphs10-12,containrequirementsfortheselectionofaccountingpoliciesintheabsenceofaStandardoranInterpretationthatspecificallyappliestoanissue.CommoncontrolcombinationsfalloutsidethescopeofHKFRS3.Accordingly,anentityselectsanappropriateaccountingpolicyinaccordancewiththerequirementssetoutinHKAS8andmanyentitiesconsiderthatmergeraccountingisanappropriateaccountingpolicyforcommoncontrolcombinations.4.ThisAccountingGuidelinesetsoutthebasicprinciplesandproceduresofmergeraccountingwhenrecognisingacommoncontrolcombination.IfthereisanyinconsistencybetweenthisGuidelineandanyHongKongFinancialReportingStandardorInterpretation(collectivelyreferredtoas“HKFRSs”),thatStandardorInterpretationistobefollowed.CertainHKFRSsmaycontainguidanceorrequirementsthatarerelevantfortheaccountingforacommoncontrolcombinationusingmergeraccounting.Forexample,HKAS8requiresaccountingpoliciestobeappliedconsistentlyforsimilartransactions,HKAS27ConsolidatedandSeparateFinancialStatementsaddressesconsolidationprinciplesandthetreatmentofadisposalofasubsidiaryandHKAS37Provisions,ContingentLiabilitiesandContingentAssetsaddressesprovisionsforrestructuring.Accordingly,anentityshouldapplythatguidanceorthoserequirements,insteadof,orinadditionto,theguidancesetoutinthisAccountingGuidelinewhenapplyingmergeraccounting.5.ItshouldbenotedthatinterspersingashellentitybetweenaparententityandasinglesubsidiarydoesnotrepresentthecombinationoftwobusinessesandaccordinglyisnotaddressedinthisAccountingGuideline.Inpractice,thesetransactionsmaybeaccountedforbyapplyingaprinciplesimilartothatforareverseacquisition.Theprinciples6.Theconceptunderlyingtheuseofmergeraccountingtoaccountforacommoncontrolcombinationisthatnoacquisitionhasoccurredandtherehasbeenacontinuationoftherisksandbenefitstothecontrollingparty(orparties)thatexistedpriortothecombination.Useofmergeraccountingrecognisesthisbyaccountingforthecombiningentitiesorbusinessesasthoughtheseparateentitiesorbusinesseswerecontinuingasbefore.7.Inapplyingmergeraccounting,financialstatementitemsofthecombiningentitiesorbusinessesforthereportingperiodinwhichthecommoncontrolcombinationoccurs,andforanycomparativeperiodsdisclosed,areincludedintheconsolidatedfinancialstatementsofthecombinedentityasifthecombinationhadoccurredfromthedatewhenthecombiningentitiesorbusinessesfirstcameunderthecontrolofthecontrollingpartyorparties.MERGERACCOUNTINGFORCOMMONCONTROLCOMBINATIONS4AG58.Wherethecombiningentitiesorbusinessesincludeanentityorabusinesspreviouslyacquiredfromathirdparty,thefinancialstatementitemsofsuchentityorbusinessareonlyincludedintheconsolidatedfinancialstatementsofthecombinedentityfromthedateofthepreviousacquisitionusingtheacquisitionvaluesrecognisedatthatdate.9.Asingleuniformsetofaccountingpoliciesisadoptedbythecombinedentity.Therefore,thecombinedentityrecognisestheassets,liabilitiesandequityofthecombiningentitiesorbusinessesatthecarryingamountsintheconsolidatedfinancialstatementsofthecontrollingpartyorpartiespriortothecommoncontrolcombination.Ifconsolidatedfinancialstatementswerenotpreviouslypreparedbythecontrollingpartyorparties,thecarryingamountsareincludedasifsuchconsolidatedfinancialstatementshadbeenprepared,includingadjustmentsrequiredforconformingthecombinedentity’saccountingpoliciesandapplyingthosepoliciestoallperiodspresented.Thesecarryingamountsarereferredtobelowasexistingbookvaluesfromthecontrollingparties’perspective.Thereisnorecognitionofanyadditionalgoodwillorexcessoftheacquirer’sinterestinthenetfairvalueoftheacquiree’sidentifiableassets,liabilitiesandcontingentliabilitiesovercostatthetimeofthecommoncontrolcombinati