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Question 1: If the aggregate of the (a)consideration transferred measured in accordance with IFRS 3, which generally requires acquisition-date fair value; (b) the amount of any non-controlling interest in the acquiree measured in accordance with IFRS 3; and (c) in a business combination achieved in stages, the acquisition date-fair value of the acquirer's previously held equity interest in the acquiree, is less than the net of the acquisition-date amounts of the identifiable assets acquired and the liabilities assumed measured in accordance with IFRS 3 (FVNAA), the difference shall be classified as
a) Share premium from issuance of shares.b) Goodwill to be presented as noncurrent asset.c) Gain on acquisition to be presented as part of OCI.d) Gain on bargain purchase to be presented as part of profit or loss.
Question 2: How shall an acquirer in a business combination account for the changes in fair value contingent consideration classified as equity instrument if the changes result from events after the acquisition date?
a) The changes in fair value of contingent consideration classified as equity shall be retrospectively restated to beginning retained earnings because they are prior period errors.b) The changes in fair value of contingent consideration classified as equity shall be recognized as gain or loss in profit or loss because they are not measured period adjustments.c) The changes in fair value of contingent consideration classified as equity shall be retroactively adjusted to goodwill/gain on bargain purchase because they are measured period adjustments.d) Contingent consideration classified as equity shall not be re-measured and its subsequent settlement shall be accounted for within equity because they are not measured period adjustments.
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