ACCA · Question 13 · Preparation of Consolidated Financial Statements
SECTION A
Omega Group acquired 80% of the share capital of Sigma Ltd for $4,000,000. At the acquisition date, the fair value of Sigma's identifiable net assets was $3,500,000. Omega chooses to measure the Non-Controlling Interest (NCI) at fair value, which was determined to be $900,000 at the acquisition date.
What is the amount of goodwill arising on acquisition under IFRS 3 Business Combinations?
Answer options:
$1,200,000
$1,400,000
$500,000
$4,900,000
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