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IFRS framework-based case study: Barrick Gold Corporation—Goodwill for Gold

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  • Goedl, Patricia A.

Abstract

The case of Barrick Gold Corporation: Goodwill for Gold utilizes a framework-based approach to examine the objectives, underlying concepts, and relevant IFRS guidance applied to goodwill. The questions presented in the case study progressively lead from the broad concepts underlying the preparation of financial data, in general, to the International Accounting Standards concerning recognition, measurement, and subsequent treatment of goodwill, specifically IFRS 3, IAS 36, and IAS 38. It challenges you to determine if these standards are consistent with the underlying concepts set forth in the IFRS’s conceptual Framework. This case illustrates the importance of professional judgment in the standard setting process by requiring you to examine the IASB’s published supporting documents including the Board’s Basis for Conclusions. In addition, the case includes a practical application problem that requires you to determine the financial statement effects of the subsequent treatment of goodwill.

Suggested Citation

  • Goedl, Patricia A., 2013. "IFRS framework-based case study: Barrick Gold Corporation—Goodwill for Gold," Journal of Accounting Education, Elsevier, vol. 31(4), pages 383-399.
    • Handle: RePEc:eee:joaced:v:31:y:2013:i:4:p:383-399
    DOI: 10.1016/j.jaccedu.2013.07.003
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    References listed on IDEAS

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    1. Eva K. Jermakowicz & Robert D. Hayes, 2011. "Framework-Based Teaching of IFRS: The Case of Deutsche Bank Teaching Notes," Accounting Education, Taylor & Francis Journals, vol. 20(4), pages 387-397, May.
    2. Eva K. Jermakowicz & Robert D. Hayes, 2011. "Framework-Based Teaching of IFRS: The Case of Deutsche Bank," Accounting Education, Taylor & Francis Journals, vol. 20(4), pages 373-385, May.
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    Cited by:

    1. Jermakowicz, Eva K. & Reinstein, Alan & Churyk, Natalie Tatiana, 2014. "IFRS framework-based case study: DaimlerChrysler – Adopting IFRS accounting policies," Journal of Accounting Education, Elsevier, vol. 32(3), pages 288-304.

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