GOODWILL

intangible asset defination - an identifiable non monetary asset without physical substance an asset is identifiable if it is capable of being seprated and sold transfered ect OR it arises from contractual or legal right . RECOGNITION CRITERIA- 1) is it probable that it will generate future economic benefits 2) it can be measured reliabilty DOUBT - how is goodwill an intiagible assets since it is not idetifiable i.e it cannot be sold seprately or neither does it arises due to contractual right OR neither can it be measured realiabilty so how is it a intnagible assets even if the goodwill is a external good will it can be measured reliably but still it is not identifiable