Carillion collapse increases scrutiny of goodwill impairment rules

Multiple-choice questions: In order to be awarded CPD units you must answer the following five random questions correctly. If you fail the test, please re-read the article before attempting the questions again

  1. Which, if any, of the following topics were also being discussed at the global preparers forum? Topic 1 - The primary financial statements project, or Topic 2 - Business entities under common control

  2. What is the current treatment for intangibles acquired as part of a business combination?

  3. Which of the following represents the correct treatment for acquired goodwill under IFRS 3 Business Combinations?

  4. Which of these represents the correct accounting treatment for internally-generated intangible assets per IAS 38 Intangible Assets?

  5. When should impairment of goodwill be recognised under the existing IFRS 3 treatment?