What provides the guidelines for recognizing goodwill under IFRS?

Goodwill recognition under IFRS is specifically governed by IFRS 3, which deals with business combinations. This standard provides a comprehensive framework for identifying and measuring goodwill that arises when an acquirer obtains control of a business.

In the context of a business combination, goodwill is defined as the excess of the purchase price over the fair value of the identifiable net assets acquired. IFRS 3 requires that the acquirer recognize goodwill at the acquisition date, along with any identifiable assets and liabilities. This standard outlines specific requirements for how to identify and measure these assets and liabilities, which directly impacts the calculation of goodwill.

The other standards mentioned do not cover the recognition of goodwill in business combinations. The Conceptual Framework provides overarching principles for financial reporting but does not address a specific measurement standard. IFRS 9 relates to financial instruments and does not encompass goodwill. IFRS 15 focuses on revenue recognition and similarly does not address goodwill. Therefore, IFRS 3 is the correct source that provides the necessary guidance for recognizing goodwill.