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Hello
Can you please explain why the last line of the answer in part 2a mentioned “Here, the acquisition of an interest in Conew is an asset acquisition and should be accounted for under IAS 38 because Conew does not meet the definition of a business.”
Also I did not come across a definition for a business in the OT Notes.
Links:
Question:
https://www.accaglobal.com/content/dam/ACCA_Global/Students/prof/p2/P2%20INT/d15_hybrid_p2int_q.pdfAnswer:
https://www.accaglobal.com/content/dam/ACCA_Global/Students/prof/p2/P2%20INT/p2int-2015-dec-a.pdf
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