Schweser Practice Exam 1 - Afternoon session #99

Not going to rehash the question here but basically the question asks you to review three statements and say how many are correct.

Statement 1 is - The applicability of both Equity and Acquisition methods is identical under GAAP and IFRS.

My thinking was that this was not true because of the differences in treatment of Goodwill … you could end up with the same but not necessarily if you go with the Partial Goodwill method.

Can anyone set me straight?