Page 28 - Finac2 Test 1 Slides - 3. Intra-Group Transactions

CONSOLIDATIONS AFTER THE DATE OF ACQUISITION

Impairment of Goodwill

• Goodwill arising from a business combination is an

intangible asset as defined by IAS 38, Intangible

Assets.

• Goodwill arising from a business combination

should be tested annually for possible impairment

according to IAS 36, Impairment of Assets, and not

only when there is an indication of impairment

(IFRS 3.54–.55, Business Combinations).

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