Page 393 - SBR Integrated Workbook STUDENT S18-J19

UK GAAP

IFRS Standards FRS 102

Acquisition costs are added to
Acquisition Acquisition costs are expensed consideration in goodwill
costs to the P&L.
calculation.

If probable then include
Include continent consideration
Contingent in goodwill calculation at fair estimated amount of contingent
consideration consideration payable in
value.
goodwill calculation.

Choice of fair value method or Only the proportionate method
NCI
proportionate method. is allowed.

IFRS 5 Non-current Assets
Held for Sale and
Discontinued Operations

Discontinued operations are
shown as one line on the P&L, Discontinued operations are
Discontinued with further detail provided in the shown in a separate column in
operations
notes to the financial the income statement.
statements.

When criteria are met, held for
Assets held sale assets are presented as No ‘held for sale’ category
exists, so assets continue to be
for sale current and depreciation depreciated up until disposal.
ceases.

IFRS 9 Financial Instruments

Adopts a simplified approach.
Classifies financial assets based
Approach on contractual cash flows and Investments in shares are FVPL
and simple debt instruments are
business model.
amortised cost.

Adopts an expected loss Adopts an incurred loss
Impairment
approach. approach.

IFRS 10 Consolidated

Financial Statements

Subsidiary should be excluded
Specific FRS from consolidation where severe
102 n/a long-term restrictions apply or
exclusions where subsidiary is held
exclusively for resale purposes.

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