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CPA(U) Final Level Practice Questions - ICPAU Certified Public Accountant Of Uganda Final Level Exam

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Under IFRS 3 (Business Combinations), a parent acquires an 80% interest in a subsidiary. The fair value of the subsidiary's net identifiable assets is UGX 500,000,000. The purchase consideration is UGX 450,000,000, and the fair value of the non-controlling interest (NCI) at acquisition is UGX 110,000,000. Using the fair value (full goodwill) method, what is the goodwill arising on acquisition?
Correct Answer:
UGX 60,000,000

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