Easy Office
LCI Learning

goodwill

This query is : Resolved 
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
02 April 2010 sir,

Can u tell me the procedure to create self generated goodwill in a business how will it reflect in our financial statements.

Kindly advice me.


Regards
Profile Image

kartik_somu

Profile Image

kartik_somu (Expert)
03 April 2010 As per AS -10, self generated goodwill should not be accounted in books.
Profile Image

CA Ravi Sisodia

Profile Image

CA Ravi Sisodia (Expert)
03 April 2010 agree
Upgrade to CAclubindia Pro. Subscribe Now!

Profile Image

shakuntala chhangani

Profile Image

shakuntala chhangani (Expert)
07 April 2010 Agreed but it is not AS 10. It is as per AS 26 "Accounting for Intangible assets". It can not be recognised as an asset as it does not satisfy the recognition criteria.
Regards, CA Shakuntala Chhangani

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries


CCI Pro
Live Budget News and Updates

Trending Online Classes

view all classess
Let's Talk Money: You've Worked Hard for It, Now Make It Work for You
Click here for more bestsellers


Answer Query



Quick Links