IPSAS 40 brings combinations clarity for public sector

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. There is a greater need for guidance on organisational restructures in the public sector as a result of -

  2. Accounting requirements for the public sector are based on -

  3. IPSAS 40 applies to -

  4. A public sector combination cannot occur -

  5. If a government nationalises a private sector entity through legislation (against shareholder wishes) the combination would be defined as -

  6. IFRS 3, Business Combinations defines all business combinations as acquisitions because -

  7. The modified pooling of interests method takes place at -

  8. The modified pooling of interests method is appropriate because -

  9. It can be difficult to obtain fair value of items but it is inappropriate to use -

  10. The classification of the type of combination is vital given that -