Indian Accounting Standard (Ind AS) 103, Business Combinations, prescribes the recognition and measurement principles for business combinations by acquisitions/ mergers. This Standard also deals with accounting for combination of entities or businesses under common control. The principles prescribed in the Standard need to be applied very carefully. Moreover, with regard to certain provisions, need of practical guidance has been felt. Accordingly, efforts have been made to deal with such implementation issues in this Educational Material which contains summary of Ind AS 103 discussing the key requirements of the Standard and the Frequently Asked Questions (FAQs) covering the issues, which are being/expected to be encountered frequently while implementing this Standard.