Acquisition accounting and merger accounting are covered by the statement of accounting practice (ssap) no 23. true or false?

Acquisition Accounting is the procedure followed when one company is taken over by another. The fair value of the purchase consideration should, for the purpose of consolidated financial statements, be allocated between the underlying net tangible and intangible assets, other than goodwill, on the basis of the fair value to the acquiring company. Any difference between the fair values of the consideration and the aggregate of the fair values separable net assets (including identifiable intangibles, such as patents, licenses and trade marks) will represent goodwill. The results of the acquired company should be brought into the consolidated profit and loss account from the date of acquisition only