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Goodwill
why we write off goodwill?
Replies (3)
As per AS-26 self generated goodwill shall not be appeared in books, if it apeare then it should be immediately written off.
but why?
what is logic and reason?
what is logic and reason?
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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