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Prelims

This document contains information about business combinations, consolidation, goodwill, non-controlling interests, and financial statements. It discusses the accounting treatment for acquisitions under PFRS 3 including recognizing identifiable assets acquired and liabilities assumed at acquisition-date fair value, how to account for non-controlling interests, and how to test goodwill for impairment annually. It also provides financial information for multiple companies.

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Marco Regunayan
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56 views1 page

Prelims

This document contains information about business combinations, consolidation, goodwill, non-controlling interests, and financial statements. It discusses the accounting treatment for acquisitions under PFRS 3 including recognizing identifiable assets acquired and liabilities assumed at acquisition-date fair value, how to account for non-controlling interests, and how to test goodwill for impairment annually. It also provides financial information for multiple companies.

Uploaded by

Marco Regunayan
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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1.

Jejomar Company - 632000


2. MIME TO IMMITATE Co. – on or before September 30
3. An acquirer should - Recognize as an intangible asset and annually impairment test
4. Which of the following - Acquisition method
5. PFRS 3 requires the acquirer - acquisition-date fair value
6. Given the following information - A+B+C-D
7. What is the basis for consolidation? - control
8. TIPPLE - TIPPLE can exercise control because it controls more than 50% of the voting power, and it
can govern the financial and operating policies of DRINK through its control of the board of directors.
9. VOLUBLE TALKATIVE Co. - Neither the national regulator nor the overseas entity
10. Are the following statements - True, False
11. Where should NCI - Within equity but separate from the parent shareholders’ equity.
12. Watkins, Inc. - 285000
13. Mango, Inc. – 75000
14. Should the following costs - No No
15. Richway Company – 4 million
16. Brendan, Inc. - 36,000
17. In a business combination - reassess the recognition and measurement of the net assets acquired and
the consideration transferred, then recognize any excess immediately in profit or loss
18. ZZ Corp. - 150000
19. VERITY FIRMNESS Co. - 1240000
20. BDO Company – 94 million
21. AIG Company - 1470000
22. Under PFRS 10 – fair value with any gain or loss recognized in OCI
23. The following statements are based on PFRS 3 – only statement III is false

24. Goodwill proportionate basis – B - 1500000


25. NCI proportionate basis – C - 2000000
26. Goodwill full basis – C - 1700000
27. NCI full basis – D - 2200000

28. The White Company - 1520000


29. Goodwill should be reported – it is acquired through the acquisition of another business
30. Is shares are issued as part - Acquisition expenses

31. Conso FS - 550000


32. NCI in NA - 638000
33. Conso RE - 2864000
34. Conso TA - 5942000
35. Conso TE - 4702000

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