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| Asset acquisition | Business combination |
| Assets and liabilities | Allocate the purchase price to the individual identifiable assets and liabilities on the basis of their relative fair values | Recognize and measure the identifiable assets and liabilities at their acquisition-date fair values |
| Goodwill | Not recognized | recognize any related goodwill or negative goodwill |
| Deferred tax | No deferred tax is recognized under IAS 12, given the initial recognition exception | Deferred tax is recognized in accordance with IAS 12 |
| Contingent liabilities | Not recognized | Contingent liabilities that are a present obligation arising from past events and can be reliably measured should be recognized at fair value |
| Transaction costs | Form part of the cost of the asset | Expensed in the period incurred |
| Subsequent measurement implications | Follow relevant standards for each asset | Follow relevant standards for each asset; annual impairment test for any recognized goodwill is required |