Page 23 - 2018 Finac1 Test 3 Class Slides - 2. Intangible Assets

TEST 3 PREPARATION

Internally generated goodwill

• Internally generated goodwill shall not be

recognised as an asset. (IAS 38.48)

• Internally generated goodwill is not recognised as

an asset because it is not an identifiable resource

controlled by the entity that can be measured

reliably at cost. (IAS 38.49)

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