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Can we recognize internally generated Goodwill in Financial Statements in accordance with IFRS?

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Question ajoutée par Jawad Qureshi , Financial Consultant , AFAZA FZ LLC/Midas Safety Dubai
Date de publication: 2014/10/22
Mohammad Shamim Ahmad
par Mohammad Shamim Ahmad , Senior Supervisor-Internal Control & Compliance , WOQOD - Qatar Fuel

Internally generated goodwill is never recognized as it is not an identifiable resource that can be measured reliably. IAS38

Goodwill is only recognized as a result of a business combination and represents the difference between the total purchase consideration and the total of the fair values of the acquired assets, including recognized intangible assets, and liabilities assumed

Khaled Mohee Eldeen Abbas Mahmoud
par Khaled Mohee Eldeen Abbas Mahmoud , Chartered Accountant # 10465 , Self-employed

yes

Ehab Khattab
par Ehab Khattab , Director,Group Head Of internal Audit , Commercial International Capital Holding

Internally generated goodwill is not recorded unless during merge or acquisition!!

Muhammad Ismail
par Muhammad Ismail , Accountig Manager , SITCO DIS TIGARET STI LLC

as the measurement of Internally created goodwill value is not possible so it can not be recognized in the financial statement

Utilisateur supprimé
par Utilisateur supprimé

sure we can recognize internally generated good will in financial statements in accordance with INTERNATIONAL FINANCIAL REPORTING STANDARDES ( IFRS )

Rashad Moursi
par Rashad Moursi , Finance Director & Business Development, International Business Transformer Owners Repr. - Hotels , Investment and financial

For sure Yes.

georgei assi
par georgei assi , مدير حسابات , المجموعة السورية

Yes is the recognition of internally generated financial reports in accordance with the accounting standards issued correctly

Mr. Shahzad
par Mr. Shahzad , Senior Internal Auditor , ZRK Industries Private Limited

No

As per the IFRS-3 Business combinations

Internally generated Goodwill cannot be capitalized. 

Malik Khalid Mahmood
par Malik Khalid Mahmood , Regional Finance Manager , Leosons International FZ LLC

No as per ias38

SHAMSUDHEEN OLASSERY                                                    CPA  CMA  CFM CFC  MBA BL
par SHAMSUDHEEN OLASSERY CPA CMA CFM CFC MBA BL , GCFO/Finance Manager , Makaseb Group

ha ha ha..can you show the standard with spesification?

Shakeel Rehman
par Shakeel Rehman , Manager , Mindshare

No, Internally generated goodwill can not be recognized in the financial statements

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