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This explanation just ‘cured’ my headache on minimax regret table. Thank you very much!
Q1 – 16 WHOLE MARKS ON CALCULATIONS ONLY IS SOMETHING ELSE…discussion would have been fair
Q2 – ETHICS WAS FAIR ENOUGH
Q3 – MIX OF INTANGIBLES/IMPAIRMENT/DISCONTINUED OPERATION…..GOOD MIX
Q4 – SMEs…garnished with INFORMATION ASYMMETRY (like are you kidding me?) and INTEGRATED REPORTING…fought for part of the 20 marks
Hoping to cross the line in 6 weeks.
Pompex is a Special Purpose Vehicle (Joint Venture) because both companies have joint control and joint benefit from it.
The 1m direct cost is to be expense according to the revised IFRS 3.
The contingent consideration (Fair value) is to be included as the disclosure criteria in IAS 37 does not affect it.
I think the deferred tax is on the 10million difference between the 2 years and should be used to reduce the identifiable net asset (i.e. goodwill increased).
No. 3 was a big issue as it was difficult to even crack the question.