Business combinations in cooperatives. A critical view of accounting standards

Article of Fernando Polo-Garrido and Elena Meliá-Martí published in the Journal Economic Research which offers a critical review of the history of cooperatives in the accounting standards for business combinations and identifies and studies five problematic aspects of the application of the acquisition method. The article provides practical guidance to identify Business Combinations Under Common Control between cooperatives, identifies incompatibilities between the cooperative law and accounting standards, proposes a modified cost of business combination, points out inequalities between members arising in the application of the acquisition method and above all shows that the IASB’s decision to allow only one method has proven ineffective in avoiding accounting arbitrage and the lack of fitness of the accounting standards to cooperatives.

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