Goodwill

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Account-Finance Officer
162 Points Joined May 2014
Dear Expert, Pl. give brief information abt goodwill, Pl. indicate accounty entry of goodwil
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On 19 October 2015 at 16:54 Report
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Student CA IPC / IPCC
64 Points Joined August 2015
Goodwill is nothing but the expected future profits of the company. It is of two types- 1)Purchased Goodwill 2)Self generated Goodwill The former one is shown in the books of accounts while latter one is not.
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On 20 October 2015 at 15:29
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Account-Finance Officer
162 Points Joined May 2014
Thanks sir what is accounting Treatment
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On 20 October 2015 at 16:04
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Student CA IPC / IPCC
64 Points Joined August 2015
Purchased Goodwill- Assets a/c Dr. Goodwill a/c Dr. To Liabilities a/c To Vendor a/c Self Generated Goodwill- Not recorded in books
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On 25 October 2015 at 10:37


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