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FRS102/IFRS

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › FRS102/IFRS

  • This topic has 3 replies, 2 voices, and was last updated 8 years ago by P2-D2.
Viewing 4 posts - 1 through 4 (of 4 total)
  • Author
    Posts
  • September 3, 2016 at 5:44 am #337200
    quartey11
    Member
    • Topics: 3
    • Replies: 8
    • ☆

    What are the key differences between the treatment of Goodwill between FRS102 and IFRS?

    September 4, 2016 at 9:16 pm #337789
    P2-D2
    Keymaster
    • Topics: 4
    • Replies: 7163
    • ☆☆☆☆☆

    Hi,

    I’m no expert on UK rules as my focus is IFRS these days but I think the biggest difference is that goodwill is amortised unlike in IFRS where it is subject to annual impairment reviews.

    One of the changes moving to FRS 102 is that I think that goodwill is amortised over 5 years when it was previously 20 years.

    Thanks

    September 5, 2016 at 1:12 am #337800
    quartey11
    Member
    • Topics: 3
    • Replies: 8
    • ☆

    Thanks Petit, you are a champion!!

    September 5, 2016 at 4:24 pm #337944
    P2-D2
    Keymaster
    • Topics: 4
    • Replies: 7163
    • ☆☆☆☆☆

    Thanks, I try my best.

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