1) Give three examples of business combinations that took place in Palestine during the past years.
2) Choose one of the three examples of a Palestinian public company that was involved in a business combination through acquisition of stock (above 50% but less than 100%), and show the following:
a) The names of the companies involved in the business combination.
b) The details of the business combination including:
– The date of the business combination.
– The acquisition cost.
– The number of shares and percentage of shares acquired in the business combination.
– The amount of the controlling interest in net income of the subsidiary for 2020.
– The amount of the non-controlling interest in net income of the subsidiary for 2020.
– The amount of the controlling interest in net assets of the subsidiary on December 31, 2020.
– The amount of the non-controlling interest in net assets of the subsidiary on December 31, 2020.
3) The acquisition method is the method currently used to account for all business combinations according to GAAP. What is the difference between the acquisition method and the purchase method, which was replaced by the acquisition method in 2007?
