goodwill
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
03 September 2010
why do we consider,'numbers of years of purchase' while valuing goodwill in partnership accounting?
03 September 2010
'numbers of years of purchase' represents estimation that hw many years the profit will cum in the same manner.
becoz goodwill we will pay based on future profits only.
so we will multiply the profit with number of years of purchase
becoz goodwill we will pay based on future profits only.
so we will multiply the profit with number of years of purchase
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