Yasaswi Gomes new (Finance ) (4514 Points)
09 November 2022Hi
Ive had this doubt ever since I graduated in Master. Goodwill can be created based on simple profit method and super profit method. Is this for partnerships or companies? Which AS covers this please?
Txs
Ive migrated to Indas and no need for me to value AS goodwill.
prasad Nilugal
( GST Practitioner & Accounts )
(14801 Points)
Replied 09 November 2022
Yasaswi Gomes new
(Finance )
(4514 Points)
Replied 09 November 2022
Isnt there anything about super profit or average profit method in AS stabdards. That must have been written somewhere. Besides Ive already read IndAS and Goodwill treatment from it.
prasad Nilugal
( GST Practitioner & Accounts )
(14801 Points)
Replied 09 November 2022
yasaswi gomes
(My grammar is 💯 good I)
(7290 Points)
Replied 10 November 2022
I have gone through AS26 and no mention about Super profit method of goodwill valuation. Indas has only one goodwill which arises only through acquisition.
CAclubindia
