Impairment testing of goodwill on first-time adoption Entity C acquired a business before its date of transition to IFRSs. The…
During the year to 31 March 2013, a firm earns £50,000 sales revenue. During the year it spent £24,000 purchasing…
Previous GAAP impairment of goodwill embedded in equity method investment Scenario 1 – Impairment was recognised on the notional goodwill…
Earn-out clause in acquisition Entity C acquired a business before its date of transition to IFRSs and agreed to make…
Subsidiary not consolidated under previous GAAP Background Entity A"s date of transition to IFRSs is 1 January 2012. Under its…
Restatement of intangible assets, deferred tax and non-controlling interests Entity A"s first IFRS financial statements are for a period that…
Fire An audit team has worked for a number of months to create the city pre department audit program and…
safety Acme Manufacturing has determined that all annual safety audits will be managed as attorney-client privileged. The auditor will be…
Security Dave is the new security manager for Acme Logistics. He is a recent graduate with a bachelor’s degree in…
Finance lease not capitalised under previous GAAP Background Entity A"s date of transition to IFRSs is 1 January 2012. Entity…