accounting treatment of goodwill in consolidate balance sheet

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gosia79
gosia79 Registered Posts: 25 Regular contributor ⭐
in AAT Level 4 (Level 8 in Scotland)
Hi,

I am confused what should be the right answer: IRS 10 ( amortisation of goodwill as per December 2003 answers) or can goodwill be now only impaired?
Could someone please clarify?

thank you

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  • welshboy
    welshboy Registered Posts: 82 Regular contributor ⭐
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    Hi,

    I'm currently revising for the DFS Exam dont go back to the 2003 exams as these are at the old standard.

    Only revise from 2006 Upwards and as far as I can see goodwill hasn't been impaired in these exams with the new examiner.

    Regards

    Matt
  • peugeot
    peugeot Registered Posts: 624 Epic contributor 🐘
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    Amortisation is prohibited under the IFRS regime so do not attempt to amortise goodwill in DFS. It is tested annually for impairment in accordance with IAS 36 'Impairment of Assets'.

    Kind regards
    Steve

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