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In researching the topic i read that “Goodwill and other indefinite-life intangibles are amortised over their useful lives, but if useful life cannot be reliably estimated,
then 10 years.”
I would like to know if that is accurate as per the standard please.
I don’t think you’ve been researching it correctly. Look up IAS 36 and you’ll find that goodwill and other intangible with an indefinite life are subject to annual impairment reviews. They will never be amortised as they don’t have a life to be amortised over.
thanks, thats why i asked. it seemed weird.
P2 is weird!