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goodwill

Forums › ACCA Forums › ACCA FR Financial Reporting Forums › goodwill

  • This topic has 3 replies, 2 voices, and was last updated 1 year ago by mrjonbain.
Viewing 4 posts - 1 through 4 (of 4 total)
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  • April 29, 2021 at 7:46 pm #619215
    deekshabee
    • Topics: 24
    • Replies: 20
    • ☆

    Why is negative goodwill credited to the statement of profit & loss?
    Someone, please explain in simple words.

    May 2, 2021 at 11:19 am #619424
    mrjonbain
    Moderator
    • Topics: 1
    • Replies: 1216
    • ☆☆☆☆☆

    It’s basically because the parent has effectively obtained something for less than its book value ( a bargain purchase) and so this gain is recognised as profit in income statement. Hope this helps.

    May 4, 2021 at 8:23 am #619603
    deekshabee
    • Topics: 24
    • Replies: 20
    • ☆

    okayyyy, thank you.

    May 4, 2021 at 9:18 am #619608
    mrjonbain
    Moderator
    • Topics: 1
    • Replies: 1216
    • ☆☆☆☆☆

    You are welcome.

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