Can we show goodwill [intangible asset] in balance sheet ?
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
08 December 2011
Dear Sir,
Can we show the goodwill as intangible asset of the organisation in the balance sheet ?? and if yes then how to calculate the same ????
Can we show the goodwill as intangible asset of the organisation in the balance sheet ?? and if yes then how to calculate the same ????
Hari Beldona
(Expert)
08 December 2011
Yes, there are different methods for valuation of good will
for example 3years purchase of average profits of the past 5 years
Good Will=3x total of past 5 years profit/5
In case of loss it is to be deducted instead of adding
I have explained for understanding purpose only
for example 3years purchase of average profits of the past 5 years
Good Will=3x total of past 5 years profit/5
In case of loss it is to be deducted instead of adding
I have explained for understanding purpose only
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
- ITC not to be taken in accounts & GSTR-3B
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
