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Hi please, can you let me know how to identify the goodwill on consideration can be cash, equity, deffered or contingent. What would be the audit procedure many thanks Rakhi.
Rakhi! You’re a P2 student!
Goodwill is an asset. How do you audit assets?
Get a copy of the client’s calculations and take the steps necessary to confirm the accuracy, completeness and validity of each of those figures within that calculation
Go back mentally to the accounting assertions and apply your mind to how to establish the material accuracy of the figures presented
Hi mike many thanks P7 is my final paper I passed P2 three years ago just refreshing on my accounting standards regards Rakhi
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