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Goodwill

Soni Darshan (41 Points)

10 January 2019

why we write off goodwill?

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Prakash Gehani (Consultant & Teacher(Whatsapp 8718057907)) (1306 Points)
Replied 12 January 2019

As per AS-26 self generated goodwill shall not be appeared in books, if it apeare then it should be immediately written off.

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Soni Darshan (41 Points)
Replied 15 January 2019

but why?
what is logic and reason?

Prakash Gehani (Consultant & Teacher(Whatsapp 8718057907)) (1306 Points)
Replied 16 January 2019

Because no consideration is paid against such goodwill and we cannot ascertain actual cost incurred to generate such goodwill hence it should not be recorded.

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