State three salient features of 'pooling of interest' method of amalgamation.

The 'Pooling of Interests' Method is for an amalgamation in the nature of merger. Following are the three salient features of this method: The assets, liabilities and reserves of the transferor company are recorded by the transferee company at their existing carrying amounts and in the same form as at the date of amalgamation. If, at the time of the amalgamation, the transferor and the transferee companies have conflicting accounting policies, a uniform set of accounting policies is adopted following the amalgamation. The difference between the amount recorded as share capital issued (plus any additional consideration in the form of cash or other assets) and the amount of share capital of the transferor company should be adjusted in the reserves of the transferee company. Accordingly no goodwill or capital reserve will arise out of amalgamation by way of merger.