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In this newsletter, we look at the following topic:
Carve-out/combined financial statements
IFRS/HKFRS provides very limited guidance on the preparation of carve-out/combined financial statements. This newsletter addresses some of the commonly asked questions on it, including:
- What are 'carve-out' and 'combined' financial statements and what is the difference with pro forma financial statements?
- When can carve-out/combined financial statements be prepared? And what are the regulatory requirements and market practice regarding this preparation?
- Practical challenges faced in the preparation of combined/carve-out financial statements (e.g. definition of a 'reporting entity', the allocation principles for assets, liabilities, income and expenses, income taxes, debt and interest expenses).
Get Your Copy Here
Read more by downloading our HKFRS News - Apr 2008 (pdf file, 117KB) for your reference.
Note: HKFRS has converged with IFRS effective from 1 January 2005. Contents contained in this newsletter are relevant to both HKFRS preparers and IFRS preparers. Other Issues of HKFRS News
Accounting and Listing Rules Updates |
