Question ID : 418

Goodwill arising on Consolidation-Amortised or Tested for impairment

Whether Goodwill arisg on consolidation needs to be amortised or ted for impairment, as the followg dian Accountg Standards are silent about the same.
AS10- does not discuss about amortization of goodwill.
AS14-applies only for amalgamation.
AS21-silent about amortization of goodwill arisg out of acquisition.
AS26- excludes goodwill arisg on account of Amalgamation or on consolidation of fancial statements.
AS28-does not talks about goodwill on consolidation.
However IFRS suggs goodwill on consolidation needs to be ted for impairment and not to be amortised.
absence of any specific method as per dian Accountg Standard which method to be followed. '

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