goodwill
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 April 2010
sir,
Can u tell me the procedure to create self generated goodwill in a business how will it reflect in our financial statements.
Kindly advice me.
Regards
Can u tell me the procedure to create self generated goodwill in a business how will it reflect in our financial statements.
Kindly advice me.
Regards
kartik_somu
(Expert)
03 April 2010
As per AS -10, self generated goodwill should not be accounted in books.
CA Ravi Sisodia
(Expert)
03 April 2010
agree
shakuntala chhangani
(Expert)
07 April 2010
Agreed but it is not AS 10. It is as per AS 26 "Accounting for Intangible assets". It can not be recognised as an asset as it does not satisfy the recognition criteria.
Regards, CA Shakuntala Chhangani
Regards, CA Shakuntala Chhangani
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