Goodwill in case of partnership

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what is the logic of...
not to show goodwill in BOA...
In case of partnership...
Please explain in detail
Replies (2)
Goodwill is a subjective concept. The value of goodwill varies from one person/valuer to another person/valuer. Goodwill Is different from Recall Value. The Company "Nestle" for example has a good recall value but does not mean it also has goodwill. As per Accounting standards, only purchased goodwill is recorded in the books of accounts as it a financial transaction and not a valuation report just for the sake of measuring goodwill on voluntary basis. Goodwill recorded in BOA is subject to annual impairment testing.
Okay....got it...thank you very much sir...


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