Merger accounting is fairly uncommon in accounting by companies, particularly since FRS 102 Financial Reporting Standard, restricted its use to group reconstructions, however it is used more frequently by limited liability partnerships (LLPs). This is largely because the conversion of a general partnership into an LLP is usually accounted for using merger accounting, although it can also be used in other circumstances.

Where a general partnership converts into an LLP, the LLP SORP (Statement of Recommended Practice) requires it to account for this using merger accounting provided that the conditions set out in paragraph 19.27 of FRS 102 are met. These are: