Goodwill

This topic has 1 reply, 2 voices, and was last updated 10 years ago by P2-D2.

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April 24, 2016 at 3:51 am #312426
nari
Member
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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?
April 26, 2016 at 9:53 am #312705
P2-D2
Keymaster
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Hi,

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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