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I want to ask 2 questions:
1. Is goodwill calculated in mergers?
2. if a sole proprietor acquires another sole proprietor then would goodwill be calculated and shown in Trial balance?
thanks1 – merger accounting is no longer allowed. So, in a business combination there has to be an acquirer and an acquiree. Therefore, in any business combination – or combination of businesses – goodwill should be calculated
2 – no, IFRS applies only to incorporated entities.
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