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Professor in the question relating to customer contracts Q1 )b)i) , the contract is identifiable for crotchet not for hummings, for two reasons. Neither it is separable from crotchet, nor does it arise out of seperate contractual right with Hummings to obtain that contract from crotchet.
I understand that it arises out of contractual rights with customers by crotchet, but there is no contractual agreement between crotchet and hummings.
So even though it will be recognised for crotchet, i feel it should not have been included as a FV asset by Hummings in goodwill valuation.
I am hoping you have watched the debrief.
These are GROUP ACCOUNTS so we are considering identifiability from the perspective of the GROUP not its individual constituent members.
I think you may be over-thinking. 🙂