b'STAATSOLIE MAATSCHAPPIJ SURINAME N.V.NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2020 (Continued)Expenses,includingitsshareofanyexpenses Acquisition-relatedcostsareexpensedasincurredincurredjointly. and included in administrative expenses.(ii) Joint venturesTheGroupdeterminesthatithasacquiredaTheGrouphasa25%participationinthe businesswhentheacquiredsetofactivitiesandSurinameGoldProjectCV(SurGold)Limited assets include an input and a substantive process partnership,whereastheGrouphasjointcontrol thattogethersignificantlycontributetotheabilitytooverthelimitedpartnership.TheGroupinvests create outputs.monthlythroughcashcallstoSurGold.The TheacquiredprocessisconsideredsubstantiveGroupsinvestmentinthelimitedpartnershipis if it is critical to the ability to continue producing consideredajointventureandisaccountedfor outputs,andtheinputsacquiredincludeanusingtheequitymethod. organizedworkforcewiththenecessaryskills,Undertheequitymethod,theinvestmentinthe knowledge,orexperiencetoperformthatprocessjointventureisinitiallyrecognizedatcost.The oritsignificantlycontributestotheabilitytocarryingamountoftheinvestmentisadjusted continue producing outputs and is considered torecognizechangesintheGroupsshareof uniqueorscarceorcannotbereplacedwithoutnet assets of the limited partnership since thesignificantcost,effort,ordelayintheabilitytoacquisitiondate. continue producing outputs.ThestatementofprofitorlossreflectstheGroups WhentheGroupacquiresabusiness,itassessesshare of the results of operations of the limitedthefinancialassetsandliabilitiesassumedforpartnership. Any change in OCI of the investee isappropriateclassificationanddesignationinpresentedaspartoftheGroupsOCI.Inaddition, accordancewiththecontractualterms,economicwhentherehasbeenachangerecognized circumstances,andpertinentconditionsasatthedirectlyintheequityofthelimitedpartnership,the acquisitiondate.ThisincludestheseparationofGrouprecognizesitsshareofanychanges,when embedded derivatives in host contracts by the applicable,inthestatementofchangesinequity. acquiree.TheaggregateoftheGroupsshareofprofitor Any contingent consideration to be transferred loss of the limited partnership is shown on the facebytheacquirerisrecognizedatfairvalueattheofthestatementofprofitorlossoutsideoperating acquisitiondate.profitandincludedincompaniesprofitorloss Contingentconsiderationclassifiedasequityisbeforetax.Thefinancialstatementsofthelimited notremeasuredanditssubsequentsettlementpartnership are prepared for the same reportingisaccountedforwithinequity.Contingentperiod as the Group.considerationclassifiedasanassetorliabilitythatAfterapplicationoftheequitymethod,theGroup isafinancialinstrumentandwithinthescopeofdetermineswhetheritisnecessarytorecognize IFRS9FinancialInstruments,ismeasuredatfairanimpairmentloss,ifany,onitsinvestmentin valuewiththechangesinfairvaluerecognizedinthelimitedpartnership.TheGroupdeterminesat thestatementofprofitorlossinaccordancewitheachreportingdatewhetherthereisanyobjective IFRS9.Othercontingentconsiderationthatisevidence that the investment in the limitednotwithinthescopeofIFRS9ismeasuredatfairpartnershipisimpaired.Ifthisisthecase,the value at each reporting date with changes in fair Group calculates the amount of impairment as thevaluerecognizedinprofitorloss.difference between the recoverable amount of the jointventureanditscarryingvalueandrecognizesthelossasShareofprofitoftheparticipationinaJVinthestatementofprofitorloss.c. Business combinationsBusiness combinations are accounted for using theacquisitionmethod.Thecostofanacquisitionis measured as the aggregate of the consideration transferred,whichismeasuredatacquisitiondatefairvalue,andtheamountofanynon-controllinginterestsintheacquiree.Foreachbusinesscombination,theGroupelectswhethertomeasurethenon-controllinginterestsintheacquireeatfair value or at the proportionate share of the acquireesidentifiablenetassets.57'