Goodwill arising on acquisition as per Accounting Standard - 14(Accounting for Amalgamation) is to be treated as per Accounting Standard - 26(Intangible Assets). Explain
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Query of Goodwill
Replies (1)
Goodwill arising on acquisition is recognised as per AS 14, and thereafter treated as an intangible asset under AS 26. Internally generated goodwill is not recorded.
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