06 May 2014
As per AS-26 Goodwill should appear in the books only if it is purchased Goodwill. In the chapter Amalgamation, in the Amalgamation in the nature of Purchase, we are using word Goodwill(Purchase consideration>Net Asset taken Over). In the above Context: Q1)Whether Goodwill word used in Amalgamation Chapter is a purchased Goodwill.If no then why shown in Balance sheet.Can anybody please help me.
CAclubindia
