Accounting for goodwill in mining acquisitions

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Please use this identifier to cite or link to this item: http://hdl.handle.net/1959.3/67913

Title: Accounting for goodwill in mining acquisitions
Author(s): Ciro, Tony
Abstract: Over the years there has been considerable debate in the financial community concerning the requirements of Accounting Standard AASB 1013 Accounting for Goodwill . In a recent case, Solomon Pacific v Acacia Resources Ltd (1996)19 ACSR 677 (noted at (1996) 14 CSLJ 485), some complex issues involving the goodwill standard were considered by the courts. The decision which required Acacia Resources to comply with AASB 1013 was not well received by companies in the mining industry. They have argued that AASB 1013 should not apply to mining acquisitions. This note will analyse the issues dealt with in the case.
Publication type: Journal article
Source: Company and Securities Law Journal, Vol.15, no. 3 (1997), pp. 193-196
Publication year: 1997
Keyword(s): Accounting standards; Australia; Goodwill standard; Law; Legislation; Litigation; Mining acquisitions; Mining industry; Solomon Pacific v Acacia Resources Ltd; Takeover premiums
Publisher: Lawbook Co.
ISSN: 0729-2775
Publisher URL: http://www.thomsonreuters.com.au/
Peer reviewed