The following statement appears in Note 1 of the annual report of Barrington Ltd: On an acquisition-by-acquisition

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The following statement appears in Note 1 of the annual report of Barrington Ltd:

On an acquisition-by-acquisition basis, the Group recognises any non-controlling interest in the acquiree either at fair value or at the non-controlling interest’s proportionate share of the acquiree’s net identifiable assets.

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Discuss under what circumstances Barrington Ltd would choose one method over the other in recognising any NCI in an acquiree.

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Financial Reporting

ISBN: 9780730396413

4th Edition

Authors: Janice Loftus, Ken Leo, Sorin Daniliuc, Belinda Luke, Hong Nee Ang, Mike Bradbury, Dean Hanlon, Noel Boys, Karyn Byrnes

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Question Posted: Apr 16, 2024 01:00 AM

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The following statement appears in Note 1 of the annual report of Barrington Ltd: On an acquisition-by-acquisition

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It is unusual for the standardsetters to allow a choice of methods as this leads to noncomparability ...View the full answer

Financial Reporting

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