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Goodwill amortisation
I was solving the chapter of valuation of goodwill. In a question goodwill has been amortised but the effect of the same has not been taken by the author in the calculation of future maintainable profit.
Please guide as to what should be the correct treatment?
Replies (2)
Add back amortisation of goodwill to the profit of that year...while calc FMP.Logic being you are finding out the goodwill so you need to eliminate that effect.
Yes Piyush I agree with you but in P. C. tulsian book it is not added back.
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