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Hello!
I wonder if you could give me an overview on when I should or shouldn’t be amortising goodwill?Many thanks!
It’s not your decision to make! It’s the directors’ responsibility annually to review the goodwill figure to determine whether goodwill is impaired
It’s the auditors’ responsibility to accept / query / dispute the directors’ assessment
Incidentally, goodwill is NEVER amortised. The concept of amortisation of the goodwill figure disappeared when IFRS 3 was revised some years ago!
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