GOING
THE DISTANCE
EUROSPORTS
GLOBAL
.66
NOT E S TO T HE
F I NANC I A L S TAT EMEN T S
YEAR ENDED
31 MARCH, 2016
2.
SIGNIFICANT ACCOUNTING POLICIES AND OTHER EXPLANATORY INFORMATION (CONT¡¯D)
2A.
Significant accounting policies (cont¡¯d)
Non-controlling interest
The non-controlling interest is equity in a subsidiary not attributable, directly or indirectly, to the reporting entity
as the parent. The non-controlling interest is presented in the consolidated statement of financial position within
equity, separately from the equity of the owners of the parent. For each business combination, any non-controlling
interest in the acquiree (subsidiary) is initially measured either at fair value or at the non-controlling interest¡¯s
proportionate share of the acquiree¡¯s identifiable net assets. Where the non-controlling interest is measured at fair
value, the valuation techniques and key model inputs used are disclosed in the relevant Note. Profit or loss and each
component of other comprehensive income are attributed to the owners of the parent and to the non-controlling
interests. Total comprehensive income is attributed to the owners of the parent and to the non-controlling interest
even if this results in the non-controlling interest having a deficit balance.
Goodwill
Goodwill is an asset representing the future economic benefits arising from other assets acquired in a business
combination that are not individually identified and separately recognised. Goodwill is recognised as of the acquisition
date measured as the excess of (a) over (b); (a) being the aggregate of: (i) the consideration transferred which
generally requires acquisition-date fair value; (ii) the amount of any non-controlling interest in the acquiree measured
in accordance with FRS 103 (measured either at fair value or as the non-controlling interest¡¯s proportionate share of
the acquiree¡¯s net identifiable assets); and (iii) in a business combination achieved in stages, the acquisition-date fair
value of the acquirer¡¯s previously held equity interest in the acquiree; and (b) being the net of the acquisition-date
amounts of the identifiable assets acquired and the liabilities assumed measured in accordance with this FRS 103.
After initial recognition, goodwill acquired in a business combination is measured at cost less any accumulated
impairment losses. Goodwill is not amortised. Irrespective of whether there is any indication of impairment, goodwill
and also any intangible asset with an indefinite useful life or any intangible asset not yet available for use are tested
for impairment at least annually. Goodwill impairment is not reversed in any circumstances.
For the purpose of impairment testing and since the acquisition date of the business combination, goodwill is
allocated to each cash-generating unit, or groups of cash-generating units that are expected to benefit from the
synergies of the combination, irrespective of whether other assets or liabilities of the acquiree were assigned to
those units or groups of units. Each unit or group of units to which the goodwill is so allocated represents the lowest
Level within the entity at which the goodwill is monitored for internal management purposes and is not larger than
a segment.
