IFRS - Business Combinations

Question 1

Under IFRS, goodwill is allocated to _________?

Answer 1

Cash generating units

Question 2

Under IFRS, are you required to disclose assumptions related to acquired contingences?

Answer 2

Yes, you are required to disclose these assumptions

Question 3

Contingent assets are recognized in a business combination under U.S. GAAP or IFRS?

Answer 3

These assets are recognized under U.S. GAAP.

Question 4

Are contingent liabilities and assets recognized under IFRs at business combination?

Answer 4

Only liabilities