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Do we still amortise goodwill, and if so, what are the cases when we have to amortise it?
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No amortisation for goodwill now, but subject o impairment test according to IFRS 3.
In P2, however, you may face a question with more in-depth critique on the impairment approach in light of the conceptual framework and the fair value accounting.
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The revised IFRS 3 says that goodwill must never be amortised.
Goodwill must be tested for impairment at least annually or at the reporting date.- Topics: 0
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In dec 09 exams there was a full question about impairment of goodwill. You can read that for more information.
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