《企业合并-披露、商誉和减值（讨论稿）》（英文原文）

March2020

IFRS®Standards

DiscussionPaperDP/2020/1

BusinessCombinations—Disclosures,

GoodwillandImpairment

Commentstobereceivedby31December2020

Commentdeadlinechangedfrom15September2020becauseofthecovid-19pandemic

BusinessCombinations—Disclosures,

GoodwillandImpairment

Commentstobereceivedby31December2020

Commentdeadlinechangedfrom15September2020because

ofthecovid-19pandemic

DiscussionPaperBusinessCombinations—Disclosures,GoodwillandImpairmentispublishedbythe

InternationalAccountingStandardsBoard(Board)forcommentonly.Commentsneedtobereceived

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BUSINESSCOMBINATIONS—DISCLOSURES,GOODWILLANDIMPAIRMENT

CONTENTS

frompage

SUMMARYANDINVITATIONTOCOMMENT5

WhyistheBoardpublishingthisDiscussionPaper?5

WhataretheBoard’spreliminaryviews?6

Whowillbeaffectedifthepreliminaryviewsareimplemented?7

WhatdoesthisDiscussionPaperinclude?8

Whatarethenextsteps?16

Invitationtocomment17

Questionsforrespondents17

Deadline24

Howtocomment24

SECTION1—INTRODUCTION25

Background25

WhathastheBoardlearnedfromstakeholders?25

ObjectiveoftheGoodwillandImpairmentresearchproject27

TermsusedinthisDiscussionPaper27

Questionsforrespondents29

SECTION2—IMPROVINGDISCLOSURESABOUTACQUISITIONS30

Subsequentperformanceofacquisitions30

Whatistheissue?31

HowdidtheBoardreachitspreliminaryview?31

TheBoard’spreliminaryview39

Othertargetedimprovements40

Whatistheissue?40

Currentrequirements41

HowdidtheBoardreachitspreliminaryview?42

TheBoard’spreliminaryview49

Questionsforrespondents50

SECTION3—GOODWILLIMPAIRMENTANDAMORTISATION53

Cantheimpairmenttestbemademoreeffective?53

Whatistheissue?53

Currentrequirements54

HowdidtheBoardreachitspreliminaryview?56

TheBoard’spreliminaryview64

Shouldamortisationofgoodwillbereintroduced?64

Whatistheissue?64

HowdidtheBoardreachitspreliminaryview?64

continued...

©IFRSFoundation3

DISCUSSIONPAPER—MARCH2020

...continued

TheBoard’spreliminaryview71

Otherconsiderations73

Otherapproachesconsidered74

Presentationoftotalequityexcludinggoodwill75

TheBoard’spreliminaryview77

Questionsforrespondents77

SECTION4—SIMPLIFYINGTHEIMPAIRMENTTEST79

Relieffromtheannualimpairmenttest79

Whatistheissue?79

Currentrequirements80

HowdidtheBoardreachitspreliminaryview?81

TheBoard'spreliminaryview85

Valueinuse—futurerestructuringorenhancement86

Whatistheissue?86

Currentrequirements86

HowdidtheBoardreachitspreliminaryview?86

TheBoard'spreliminaryview88

Valueinuse—post-taxcashflowsanddiscountrates88

Whatistheissue?88

Currentrequirements88

HowdidtheBoardreachitspreliminaryview?89

TheBoard'spreliminaryview90

Simplificationsnotpursued90

Questionsforrespondents91

SECTION5—INTANGIBLEASSETS93

Whatistheissue?93

Currentrequirements95

HowdidtheBoardreachitspreliminaryview?95

TheBoard’spreliminaryview98

Questionsforrespondents99

SECTION6—OTHERRECENTPUBLICATIONS100

TheFASB’sInvitationtoComment100

TheAASB’sResearchReport102

Questionsforrespondents103

APPENDIX—PRESENTINGTOTALEQUITYEXCLUDINGGOODWILL104

4©IFRSFoundation

BUSINESSCOMBINATIONS—DISCLOSURES,GOODWILLANDIMPAIRMENT

Summaryandinvitationtocomment

WhyistheBoardpublishingthisDiscussionPaper?

IN1Mergersandacquisitions—referredtoasbusinesscombinationsinIFRS

Standards—areoftenlargetransactionsforthecompaniesinvolved.1These

transactionsplayacentralroleintheglobaleconomy,withdealsannounced

in2019totallinginexcessof$4trillion.2Accordingtodataextractedfrom

CapitalIQinFebruary2020,goodwillamountedto$8trillionforalllisted

companiesworldwide,accountingforaround18%oftheirtotalequityand3%

oftheirtotalassets.

IN2IFRS3BusinessCombinationsspecifieshowcompaniesmustaccountforthese

transactions.TheInternationalAccountingStandardsBoard(Board)is

carryingoutaresearchprojectonGoodwillandImpairment,considering

issuesidentifiedinaPost-implementationReview(PIR)ofIFRS3.(Thepurpose

ofaPIRistoidentifywhetheraStandardisworkingastheBoardintended.)

IN3Theproject’sobjectiveistoexplorewhethercompaniescan,atareasonable

cost,provideinvestorswithmoreusefulinformationabouttheacquisitions

thosecompaniesmake.ThroughoutthisDiscussionPaper,theterm‘investors’

referstotheprimaryusersoffinancialstatements,definedintheConceptual

FrameworkforFinancialReportingasexistingandpotentialinvestors,lendersand

othercreditors.

IN4Betterinformationwouldhelpinvestorsassesstheperformanceofcompanies

thathavemadeacquisitions.Betterinformationwouldalsobeexpectedto

helpinvestorsmoreeffectivelyholdacompany’smanagementtoaccountfor

management’sdecisionstoacquirethosebusinesses.

IN5TheprojectconsidersthefollowingtopicsidentifiedinthePIRofIFRS3:

(a)disclosinginformationaboutacquisitions;

(b)testinggoodwillforimpairment—effectivenessandcost;

(c)whethertoreintroduceamortisationofgoodwill;and

(d)recognisingintangibleassetsseparatelyfromgoodwill.

IN6ThisDiscussionPaperexaminesthesetopicsandexpressestheBoard’s

preliminaryviewsonthem.TheBoard’sobjectiveistodecidewhetherithas

compellingevidencethatchangestoIFRSStandardsarenecessaryandwould

justifythecostofchange.

IN7TheBoardwouldwelcomefeedbackfromallpartiesonallthesetopics.After

consideringfeedback,theBoardwilldecidewhetherandhowtomoveforward

withtheproject.TheBoardwillalsodecidewhethertochangeanyofits

preliminaryviewssetoutinthispaperasitdevelopsproposals.IftheBoard

1ThroughoutthisDiscussionPaper,theterm‘acquisition’referstoabusinesscombinationwithin

thescopeofIFRS3BusinessCombinationsanddefinedasatransactionorothereventinwhichan

acquirerobtainscontrolofoneormorebusinesses.

2JPMorgan,‘2020GlobalM&AOutlook’,2020,/jpmpdf/1320748081

210.pdf,(accessed7February2020).

©IFRSFoundation5

DISCUSSIONPAPER—MARCH2020

decidestoamendIFRSStandards,itwillpublishproposalsinanexposure

draft.

IN8ReviewingeitherIAS36ImpairmentofAssetsorIAS38IntangibleAssetsintheir

entiretyisbeyondthescopeofthisproject.Ifstakeholderswouldlikethe

Boardtoconsideraddingsuchprojectstoitsworkplan,theBoardencourages

themtorespondtotheBoard’s2020AgendaConsultation.3

WhataretheBoard’spreliminaryviews?

IN9TheBoard’spreliminaryviewsarethatit:

(a)shoulddevelopproposalstoenhancethedisclosureobjectivesand

requirementsinIFRS3toimprovetheinformationprovidedto

investorsaboutanacquisitionanditssubsequentperformance

(Section2);

(b)cannotdesignadifferentimpairmenttestforcash-generatingunits

containinggoodwillthatissignificantlymoreeffectivethanthe

impairmenttestinIAS36atrecognisingimpairmentlosseson

goodwillonatimelybasisandatareasonablecost(Section3);

(c)shouldnotreintroduceamortisationofgoodwill(Section3);

(d)shoulddevelopaproposaltohelpinvestorsbetterunderstand

companies’financialpositionsbyrequiringcompaniestopresenton

theirbalancesheetstheamountoftotalequityexcludinggoodwill

(Section3);

(e)shoulddevelopproposalsintendedtoreducethecostandcomplexity

ofperformingtheimpairmenttestby:

(i)providingcompanieswithrelieffromhavingtoperforman

annualquantitativeimpairmenttestforcash-generatingunits

containinggoodwillifthereisnoindicationthatan

impairmentmayhaveoccurred;and

(ii)extendingthesamerelieftocompaniesforintangibleassets

withindefiniteusefullivesandintangibleassetsnotyet

availableforuse(Section4);

(f)shoulddevelopproposalsintendedtoreducecostandcomplexity,and

toprovidemoreusefulandunderstandableinformationbysimplifying

therequirementsforestimatingvalueinuseby:

(i)removingtherestrictiononincludingcashflowsfromafuture

uncommittedrestructuringorfromimprovingorenhancingan

asset’sperformance(Section4);and

(ii)permittingtheuseofpost-taxcashflowsandpost-taxdiscount

rates(Section4);and

3See/projects/work-plan/2020-agenda-consultation/.

6©IFRSFoundation

BUSINESSCOMBINATIONS—DISCLOSURES,GOODWILLANDIMPAIRMENT

(g)shouldnotchangetherangeofidentifiableintangibleassets

recognisedseparatelyfromgoodwillinanacquisition(Section5).

Whowillbeaffectedifthepreliminaryviewsare

implemented?

IN10Ifimplemented,theBoard’spreliminaryviewswouldenhancethe

informationprovidedtoinvestorsaboutthesubsequentperformanceof

acquisitions.4IFRSStandardsdonotspecificallyrequirecompaniestoprovide

informationaboutwhetheranacquisitionismeetingmanagement’s

expectationsforthatacquisition.Thisinformationwouldbeexpectedtohelp

investorsassessperformanceandmoreeffectivelyholdmanagementto

accountforitsacquisitiondecisions.

IN11ImplementingtheBoard’spreliminaryviewswouldaffectcompaniesthat

acquirebusinesses.Suchcompanieswouldhavetoprovideinvestorswith

informationonthesubsequentperformanceoftheiracquisitionsbasedon

howmanagementmonitorsthoseacquisitions.

IN12TheBoardwouldparticularlywelcomeinvestors’viewsonhowusefulthe

informationaboutthesubsequentperformanceofanacquisitionwouldbe

andonwhetherimplementingtheBoard’spreliminaryviewswouldprovide

thetypeofinformationthatinvestorsneed.TheBoardwouldalsoliketo

understandtheoperationalandcostimplicationsofarequirementtodisclose

theinformationaboutthesubsequentperformanceofanacquisition.If

companies,auditorsandregulatorshaveconcernsabouttheseimplications,

theBoardwouldwelcometheirsuggestionsformakingtherequirements

moreoperableorlesscostlywhilestillprovidingtheinformationinvestors

need.ThiswouldhelptheBoardwhenitperformsacost-benefitanalysisof

anypossiblefuturerequirementstodisclosesuchinformation.

IN13TheDiscussionPaperalsoexamineswhethertoreintroduceamortisationof

goodwill.Reintroducingamortisationcouldreducethecostsofperforming

theimpairmenttestforcompaniesthatrecognisegoodwill,butitcouldalso

reducetheusefulnessoftheinformationthesecompaniesprovideto

investors.TheBoard’spreliminaryviewisthatitshouldnotreintroduce

amortisation,buttheBoardwouldwelcomeanynewargumentsornew

evidencethatstakeholdershaveonthistopic.

IN14TheBoardacceptsthatbothaccountingmodelsforgoodwill—the

impairment-onlymodelinIAS36andanamortisationmodel—have

limitations.TheBoard’spreliminaryviewisthatthereisnocompelling

evidencetojustifyonceagainchangingtheaccountingforgoodwillandthe

coststhatsuchachangewouldentail.ThisDiscussionPaperprovides

stakeholderswithanopportunitytoexplainwhethertheyagreewiththat

preliminaryview.

4Throughoutthisdocument,termssuchas‘subsequentperformanceofanacquisition’referto

theperformanceaftertheacquisitionoftheacquiredbusinesstogetherwiththeperformanceof

anyotherpartoftheacquirer’sbusinesswheresynergiesarisebecauseoftheacquisition.

©IFRSFoundation7

DISCUSSIONPAPER—MARCH2020

IN15Simplifyingtheimpairmenttestwouldreducethecostofperformingthetest

forthosecompaniesthatrecognisegoodwill,andcouldaffectothercompanies

becausesomeofthepreliminaryviewswouldamendimpairmenttestingfor

allassetsinthescopeofIAS36.

IN16TheDiscussionPapercoversseveralimportanttopicsthatwillaffectmany

investors,companies,auditorsandregulators.Yourresponseswillhelpthe

Boarddecidewhethertodevelopproposalsbasedonitspreliminaryviews.

Yourresponseswillbemostusefulifyouprovideevidencetosupportyour

comments.

WhatdoesthisDiscussionPaperinclude?

IN17AsummaryoftheBoard’spreliminaryviewswiththemainreasonsforthem

isprovidedinparagraphsIN18–IN49.Theissuessummarisedinthissection

arediscussedinfurtherdetailinSections2–5.Section6oftheDiscussion

Paperoutlinesrecentpublicationsfromtwonationalstandard-setterson

similartopics:

(a)anInvitationtoCommentpublishedbytheUSFinancialAccounting

StandardsBoard;and

(b)aResearchReportpublishedbytheAustralianAccountingStandards

Board.

Disclosures

IN18Investorshavesaidtheywanttounderstandwhetherthepriceofan

acquisitionwasreasonableandwhetherthatacquisitionhasbeensuccessful.

Theysaysomecompaniesdonotprovideenoughusefulinformationforthose

investorstofullyunderstandanacquisition,despitethevolumeofdisclosure

requirementsinIFRS3.

IN19Theyalsosaythatcompaniestypicallydonotprovideenoughinformation

aboutthesubsequentperformanceoftheacquisition,becausetheyarenot

specificallyrequiredtodoso.Althoughtheimpairmenttestforcash-

generatingunitsthatcontaingoodwillcouldprovidesomeinformationabout

thesubsequentperformanceofanacquisition,stakeholdershavetoldthe

Boardthatthisinformationisnottimely.Theimpairmenttestcannotinform

investorswhetheranacquisitionhasbeenasuccess(seeparagraphs

IN29–IN30).

IN20TheBoard’spreliminaryviewisthatitshouldrequirecompaniestodisclose:

(a)management’sobjectivesforanacquisition;

(b)themetricsthatmanagementwillusetomonitorwhetherthe

objectivesoftheacquisitionarebeingmet;

(c)theextenttowhichmanagement’sobjectivesfortheacquisitionare

beingmetinsubsequentreportingperiods,usingthosemetrics;and

(d)otherinformation,reflectingpossibletargetedimprovementstothe

disclosureobjectivesanddisclosurerequirementsofIFRS3.

8©IFRSFoundation

BUSINESSCOMBINATIONS—DISCLOSURES,GOODWILLANDIMPAIRMENT

IN21Becausethecostofanacquisitionisoftenlargerelativetothevalueofthe

acquiringcompany,andtheimplicationsoffailurearethereforeoften

significant,theBoardpresumesthatthemanagementoftheacquiring

companymonitorsanacquisitioninternallyandisawareofhowwellan

acquisitionisperformingagainstmanagement’sexpectationsforit.TheBoard

takestheviewthatacompanyshouldberequiredtoprovideinvestorswith

informationthatitsmanagementusestomonitoranacquisition,evenifthat

informationisaboutthecombinedbusinessbecausetheacquiredbusinesshas

beenintegrated.Ifmanagementdoesnotmonitoranacquisition,theBoard

suggeststhatcompaniesshouldberequiredtomakeinvestorsawareofthat

fact.

IN22TheBoard’spreliminaryviewisthattheinformationdisclosed,andthe

acquisitionsforwhichtheinformationisdisclosed,shouldbetheinformation

andthoseacquisitionsthatthecompany’schiefoperatingdecisionmaker

reviews.5TheBoardexpectsthatthiswouldprovidethemostimportant

informationaboutthemostimportantacquisitions.

IN23TheBoarddoesnotintendtoprescribespecificmetricstobedisclosed

because,initsview,nosinglemetriccouldprovideinvestorswithadequate

informationforevaluatingthesubsequentperformanceofallacquisitions.

IN24TheBoard’spreliminaryviewondisclosuresiscentraltoitspackageof

preliminaryviews,theoverallaimofwhichisforcompaniestoprovide

investorswithbetterinformationaboutacquisitionsandwithabetter

understandingoftheeconomicsofthesetransactions.

Cantheimpairmenttestbemademoreeffective?

IN25IAS36requirescompaniestotestcash-generatingunitscontaininggoodwill

forimpairmentatleastannually.However,somestakeholderstoldtheBoard

thatimpairmentlossesongoodwillaresometimesrecognisedtoolate,long

aftertheeventsthatcausedthoselosses.Thiscouldbebecause:

(a)estimatesofcashflowsmaysometimesbetoooptimistic.

(b)goodwillisshieldedfromimpairmentby—forexample,theheadroom

ofabusinesswithwhichanacquiredbusinessiscombined.The

headroomofabusinessistheamountbywhichitsrecoverableamount

exceedsthecarryingamountofitsrecognisednetassets.This

headroomcanmaskimpairmentofacquiredgoodwillwhena

companyteststhecombinedbusinessforimpairmentbecauseany

reductionintherecoverableamountofthecombinedbusinessisfirst

absorbedbythatheadroom.

IN26TheBoard’sviewisthatifestimatesofcashflowsaretoooptimistic,thisis

bestaddressedbyauditorsandregulators,notbychangingIFRSStandards.

5Paragraph7ofIFRS8OperatingSegmentsdiscussesthemeaningoftheterm‘chiefoperating

decisionmaker’.

©IFRSFoundation9

DISCUSSIONPAPER—MARCH2020

Whatisgoodwill?

IFRS3definesgoodwillasanassetrepresentingthefutureeconomicbenefits

arisingfromotherassetsacquiredinabusinesscombinationthatarenot

individuallyidentifiedandseparatelyrecognised.

Acompanycaneithergenerategoodwillinternallyoracquiregoodwillina

businesscombination.However,acompanyrecognisesonlyacquiredgoodwill

onitsbalancesheet.Internallygeneratedgoodwillisnotrecognisedonthe

balancesheetasanasset.

Acompanyrecognisesacquiredgoodwillon