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With reference to the requirements of IFRS 3, discuss any concerns relating to the recognition and measurement of the various elements included in the journal
With reference to the requirements of IFRS 3, discuss any concerns relating to the recognition and measurement of the various elements included in the journal that the UK Limited accountant recorded to account for the acquisition of Powerworx Limited. Provide reasons to support your concerns as well as recommendations on how to correctly account for each specific element. Clearly indicate the discussion of each component of the journal entry.
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