Acquisition

Acquisition is the process of an entity (acquirer) buying another entity (investee, target), the acquirer must record the event under the acquisition method (IFRS 3). This approach mandates a series of steps to record the acquisitions, which are:

1. Measure any tangible assets and liabilities that were acquired
2. Measure any intangible assets and liabilities that were acquired
3. Measure the amount of any non-controlling interest in the acquired business
4. Measure the amount of consideration paid to the seller
5. Measure any goodwill or gain on the transaction