What is the difference in the treatment of internally generated goodwill from the purchased goodwill under IAS 38 intangible assets?
What is the difference in the treatment of internally generated goodwill from the purchased goodwill under IAS 38 intangible assets?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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What is the difference in the treatment of internally generated goodwill from the purchased goodwill under IAS 38 intangible assets?
Purchased goodwill is not amortised; whereas, internally generated goodwill can be amortised over a period of 10 years
Purchased goodwill is to be expensed in the period it is bought, whereas internally generated goodwill is to be deferred and amortised over a period of no less than 20 years
Purchased goodwill may be recorded as an asset, whereas internally generated goodwill may not
Purchased goodwill can be amortised over a period of 10 years; whereas, internally generated goodwill is recognised as an asset which cannot be amortised
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