a) Explain the rationale for the elimination of intragroup transactions in the preparation of consolidated financial statements? List five different types of intragroup transactions within the group structure which need to be eliminated for consolidation purpose. (3 marks)

b) Briefly explain how goodwill arising on a business combination is initially recognised and subsequently measured. (5 marks)

c) There are two broad types of joint arrangements referred in AASB 11 Joint Arrangements. How do you differentiate these two types of joint arrangement? (4 marks)