https://www.taxtmi.com/acts?id=14686 Accounting for amalgamations requires classification as either an amalgamation in the nature of merger or in the nature of purchase, each carrying a prescribed method of accounting. Mergers meeting specified continuity and consideration criteria use the pooling of interests method, preserving carrying amounts of assets, liabilities and reserves and aggregating profit and loss balances. Purchases use the purchase method, allocating consideration to identifiable assets and liabilities at fair value, recognising excess as goodwill to be amortised (normally within five years) or a capital reserve if consideration is lower, and preserving statutory reserves where required by law. en-us Sat, 04 Jun 2011 12:23:27 +0530 Mon, 18 Apr 2016 22:50:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=14686 Accounting for amalgamations requires classification as either an amalgamation in the nature of merger or in the nature of purchase, each carrying a prescribed method of accounting. Mergers meeting specified continuity and consideration criteria use the pooling of interests method, preserving carrying amounts of assets, liabilities and reserves and aggregating profit and loss balances. Purchases use the purchase method, allocating consideration to identifiable assets and liabilities at fair value, recognising excess as goodwill to be amortised (normally within five years) or a capital reserve if consideration is lower, and preserving statutory reserves where required by law. Act-Rules Companies Law Sat, 04 Jun 2011 12:23:27 +0530 https://www.taxtmi.com/acts?id=14686