Business Combination under Common Control represents a challenge for jurisdictions that adopt IFRS. There is a “regulation gap” and companies develop varied accounting policies under the discretion of IAS n. 8, therefore promoting a break of comparability and uniformity. Depending on the underlying economic motivations, such policies may put in doubt the quality of the information to be disclosed to users of the financial statements. This study, under a normative research approach, investigates the USGAAP and the UKGAAP focused on BCUCC and apply them to illustrative examples, in order to evaluate the effects of some of these practices in the Brazilian corporate and tax environment. The results of the illustrative examples indicate that the adoption of some accounting practices from US and from UK may require changes in the Brazilian corporate law.
CITATION STYLE
da Costa Junior, J. V. (2020). Business combination under common control: A study of the USGAAP and UKGAAP and their effects in the Brazilian corporate and tax environment. Revista Direito GV, 16(3). https://doi.org/10.1590/2317-6172201973
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