Hello Mike
As per IAS 36 Impairment of Asset, the Reversal of an impairment loss for goodwill is prohibited. My question is, if the company's reputation and brand name "picks up" in the future, how is this to be recorded?
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Goodwill
10y ago#1Hi,
We don't record anything with regards to the improvement in the company's reputation or brand name. It is considered an internally generated intangible under IAS 38 and so cannot be recognised as the measurement is not reliable enough.
Thanks
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