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Goodwill

NNaomi10y ago
Hello! I wonder if you could give me an overview on when I should or shouldn't be amortising goodwill? Many thanks!
MikeLittleMikeLittleTutor10y ago#1
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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