Page 191 - Full Book_24.4.2021

NOTES TO THE
FINANCIAL STATEMENTS in retrospect

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for the financial year ended 31 december 2020 (continUed)
the Will to Suceed

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2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
2.2 Basis of consolidation (continued)
(b) Business combinations achieving a leading repute
business combinations are accounted for using the acquisition method from the acquisition date, which is the date
on which control is transferred to the Group. |
Paving the Way for a Sustainable future
for new acquisitions, the Group measures the cost of goodwill at the acquisition date as:
• the fair value of the consideration transferred; plus
• the recognised amount of any non-controlling interest in the acquiree; plus

• if the business combination is achieved in stages, the fair value of the existing equity interest in the acquiree; less
• the net recognised amount (generally fair value) of the identifiable assets acquired and liabilities assumed.
When the excess is negative, a bargain purchase gain is recognised immediately in the profit or loss.
for each business combination, the Group elects whether it measures the non-controlling interests in the acquiree
either at fair value or at proportionate share of the acquiree’s identifiable net assets at the acquisition date. 185
transaction costs, other than those associated with the issue of debt or equity instruments, that the Group incurs
in connection with a business combination are expensed as incurred.

(c) Acquisition or disposal of non-controlling interest
the Group accounts for all changes in its ownership interest in subsidiaries that do not result in loss of control
as equity transactions between the Group and its non-controlling interest holders. any difference between the
Group’s share of net assets before and after the change, and any consideration received or paid, is adjusted to or adhering to the best Governance Practices
against Group reserves.
(d) Acquisition from entities under common control
in a business combination under common control, the assets and liabilities of the transferee entities are included |
in the consolidated financial statements of the acquiring entity at their existing carrying amounts from the
consolidated financial statements of the ultimate controlling party without fair value uplift. the difference between
the consideration given and the aggregate carrying amounts of the assets and liabilities (as of the date of the
transaction) is recognised in equity. no new goodwill is recognised. the existing entities’ results, assets and liabilities
are incorporated in the consolidated financial statements of the acquiring entity as if the entities had always been Laying the Foundation for Financial Growth
from the date of common control.
(e) Distribution-in-specie
the Group and company measure the liability to distribute non-cash assets as a dividend to its owners at the
fair value of the assets to be distributed. at the end of each reporting period and at the date of settlement, the |
Group and company review and adjust the carrying amount of the dividend payable, with any changes in the
carrying amount of the dividend payable recognised in equity as adjustments to the amount of the distribution.
any difference between the fair value of the non-cash assets distributed and their respective carrying amounts is
recognised in profit or loss upon derecognition of the non-cash assets. additional information & disclosure Summary
(f) Loss of control
Upon the loss of control of a subsidiary, the Group derecognises the assets and liabilities of the former subsidiary,
any non-controlling interests and the other components of equity related to the former subsidiary from the
consolidated statement of financial position. any surplus or deficit arising on the loss of control is recognised in the |
profit or loss. if the Group retains any interest in the former subsidiary, then such interest is measured at fair value
at the date that control is lost. Subsequently, it is accounted for as an equity accounted investee or as a financial
asset at fvoci depending on the level of influence retained. 24 th aGm information