Can goodwill of parent company be set off with capital reserve arising on account of consolidation of subsidiary company... Please clarify
Can goodwill of parent company be set off with capital reserve arising on account of consolidation of subsidiary company... Please clarify
Or it is to be netted and disclosed as notes to consolidated financial statements
Goodwill is an intangible asset.
Acquired goodwill is annually tested for impairment and written off.
Internally generated goodwill is written off.
Bargain purchase- negative goodwill is taken to income statement.
It cannot be setoff with any other head.
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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CAclubindia
