ACA Corporate Reporting Practice Questions - ICAEW ACA Advanced Level Corporate Reporting Exam

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Under IFRS 3 Business Combinations, how is goodwill arising on acquisition of a subsidiary measured when the non-controlling interest (NCI) is measured at fair value (the full goodwill method)?

Consideration transferred less the parent's share of the book value of net assets acquired Fair value of identifiable net assets acquired less consideration transferred Consideration transferred plus fair value of NCI plus fair value of any previously held interest, less the fair value of identifiable net assets acquired Consideration transferred less the parent's share of the fair value of identifiable net assets, ignoring NCI entirely

Correct Answer:

Consideration transferred plus fair value of NCI plus fair value of any previously held interest, less the fair value of identifiable net assets acquired

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