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Hello Sir,
Is it safe to say, by definition, that…
Goodwill – IFRS 3: “An asset representing the future economic benefits arising from assets acquired in a business combination that are NOT INDIVIDUALLY IDENTIFIED and separately recognised”) …
doesn’t exactly comply with the definition of …
An intangible asset – “An IDENTIFIABLE non-monetary asset without physical substance” ..?
I don’t see an inconsistency, sorry. The NOT INDIVIDUALLY IDENTIFIED refers to the assets being acquired. The expression is not referring to the goodwill.
OK?
So…
Goodwill = an Intangible asset
Intangible assets = are identifiable.Therefore I’ve learned:
Goodwill = IS itself identifiable …as being a “collection of any other things/assets that are not”.
Hope I’m right. Thank you!
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