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(Querist)
24 April 2010 is Goodwill covered under AS-26 or not
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CMA RV Padmakumar.A

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CMA RV Padmakumar.A (Expert)
24 April 2010 yes
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
24 April 2010 YES IT IS COVERED BEING AN INTANGIBLE ASSETS.
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CA Ravi Sisodia

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CA Ravi Sisodia (Expert)
24 April 2010 yes
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Jagdish Shah

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Jagdish Shah (Expert)
24 April 2010 Goodwill is an intangible assets and hence, covered under AS 26. As 26 deals with both the kinds of goodwill viz. the one which is acquired for a price and the one which is self generated. However, it specifically excludes from its scope the goodwill arising on Amalgamation and the one which arises on consolidation of accounts. The same is convered under AS 14 and AS 21 respectively.
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CMA Arif Farooqui

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CMA Arif Farooqui (Expert)
30 April 2010 Goodwill covered under AS 26.
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