IFRS 3 - Goodwill and consolidation for y/e 2009

[rrehman]

AOA
Please comment on the new changes being introduced by IFRS3 regarding calculation of Goodwill (i.e. full goodwill method)
Will we have to follow in preparing consolidated financial statements in pakistan for thte year ended december 2009..or we can prepare the financial statement on the old method of Goodwill calculation...
Sir Kamran...Please help.

Regards
Rizwan

[Sh.Mohsin]

The main change in the mathod is just because of two options in calculating the non-controlling interest.
Non-controlling interest can be calculated either at proportionate basis or at markete value. Calculation of goodwill will also vary accoring to the choice of mathod.
According to me, old mathod can be applied for the year ended 31 December 2009.