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AS-26 applicability in partnership (CA-IPCC)
as per AS-26 only purchased goodwill can be shown in books.But in problems related to conversion/sale of partnership firm to company, in ipcc study material they are providing purchase consideration for goodwill(included in business purchase).
Replies (1)
Follow AS goodwill method. Yes, consideration received+nci-net identifiable assets= goodwill. If you think that there is goodwill arising out of a company when it becomes a corporate from partnership firm, your wrong, Goodwill arises on acquisition or internally generated,
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