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Hi,
Internally generated goodwill is recognised in the face of the consolidated statement of financ.position and amortised if it has definite useful life but is not recognised in the single statements??“Internally generated goodwill is recognised in the face of the consolidated statement of financ.position and amortised if it has definite useful life”
Not if it’s the goodwill of the parent entity!
And it isn’t really treated quite so simply where the goodwill arises on the acquisition of a new subsidiary
We don’t look at the assets of a subsidiary and say”Oh yes, by the way, we have been generating some goodwill so can you put a value on that?”
The goodwill that arises on the acquisition of a new subsidiary is the balancing figure after the comparison of the fair value of the consideration paid with the fair value of the identifiable net assets acquired
OK?
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