g/w arising on acquisition can be amortised for how many years? and g/w otherwise can be amortised for how many years
7 Replies
Hitesh
(Student)
(3549 Points)
Replied 25 October 2018
acquisition 5 yrs as per AS 14 and otherwise 10years as per AS 26... However as per Ind AS goodwill arising on business combination is to be tested for impairment on yearly basis...
Khushboo Thakkar
(Article)
(70 Points)
Replied 25 October 2018
thanks. . I was of the same view but suggested answers of Nov 15 exam Q.6b is hinting for 10 yrs whereas it is g/w arising on acquisition. Kindly guide
Hitesh
(Student)
(3549 Points)
Replied 25 October 2018
I have gone through the question. The question is related to general acquisition of asset and not entity and hence will be amortised over 10 years..
Khushboo Thakkar
(Article)
(70 Points)
Replied 25 October 2018
yessss.... thanx a ton for this.. I didn't notice that
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