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Goodwill

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › Goodwill

  • This topic has 1 reply, 2 voices, and was last updated 1 year ago by P2-D2.
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  • June 28, 2021 at 4:35 pm #626541
    andreaskraken
    Member
    • Topics: 57
    • Replies: 30
    • ☆☆

    On 1 Jan 2002 Viagem aquired 90% of the equity share capital of Greca

    Although Greca has been profitable since its acquisition by Viagem the market for Greca’s products has been badly hit in recent months and Viagem has calculated the goodwill has been impaired by $2 million as at 30 september 2002

    This question is just a small extract from the whole question because I have a doubt that is relevant to this extract only

    I was trying to figure out what the goodwill was and the correct answer has not deducted the impairment loss of 2 million in the goodwill

    i don’t know why they have not removed impairment loss because I remember that the theory in the textbook said to remove impairment when trying to find goodwill

    June 30, 2021 at 7:24 pm #626728
    P2-D2
    Keymaster
    • Topics: 4
    • Replies: 6451
    • ☆☆☆☆☆

    Hi,

    If there is an impairment to goodwill then we deduct it in full from the carrying value of goodwill on the group SFP.

    We will only include the impairment for the year within the statement of profit or loss.

    It could be that there is a mistake in the question.

    Thanks

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