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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › Consolidation
Sir,
In consolidation what is meant by ” an internally developed customer list which has been independently valued ” ? I’ve seen this question in the BPP study text on Page 32 ex 111. What is the relevant entry ?
An internally developed customer list is a list of customers that has been prepared by the entity itself and has not been purchased from an outside agency
The treatment? In the ordinary course of events, nothing. But for the purposes of finding the fair value of a subsidiary’s net assets on the occasion of an acquisition, then that internally developed customer list is valued at the fair value arrived at, ideally, by an independent valuer (as is the case in your post)
OK?