Goodwill
This query is : Resolved
12 May 2016
Please enumerate the treatement of amortization of goodwill
12 May 2016
is it a self generated goodwill or purchased goodwill. please explain the accounting treatment and how the goodwill has arisen.
12 May 2016
if the goodwill is purchased, to be used for a certain number of years, then the question of amortisation will arise. Please elaborate your situation.
12 May 2016
The goodwill is purchased.
13 May 2016
If it is purchased for life time, then no need to amortise the same. The question of amortisation comes when the goodwill purchase is for a term say 3 years, 5 years and so on.
But goodwill purchases for life time need not be amortised.
The entries for amortisation are similar to depreciation entry....
Debit amortised goodwill (expenses)
Credit Goodwill
But goodwill purchases for life time need not be amortised.
The entries for amortisation are similar to depreciation entry....
Debit amortised goodwill (expenses)
Credit Goodwill
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- ITC temporary reversal and reclaim
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- GST on export of services and Input Credit
- TDS U/S. 194NF
- Applicable TDS rate for sale of property in Nov 2024
- RCM INVOICING FROM NOV-2024
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
- CASE INTIMATION OF LIABILITY UNDER SECTION 73(5)(Rule 142(1A)
- Need to correct "Whether it is last installment " response in Form 26 QB
Trending Online Classes
CAclubindia
