An acquisition will typically result with the acquiring organization bringing goodwill onto its books. a. How is

Question:

An acquisition will typically result with the acquiring organization bringing goodwill onto its books.
a. How is the amount of goodwill determined at the time of acquisition?
b. When should an organization consider whether goodwill has been impaired? How is goodwill impairment determined?
c. What are the auditor’s concerns related to goodwill?

Goodwill
Goodwill is an important concept and terminology in accounting which means good reputation. The word goodwill is used at various places in accounting but it is recognized only at the time of a business combination. There are generally two types of...

Fantastic news! We've Found the answer you've been seeking!