Commerce Exam > Commerce Videos > Accounting Test Time - Valuation of Goodwill 1 - Class 12, Acountancy
Accounting Test Time - Valuation of Goodwill 1 - Class 12, Acountancy Video Lecture - Commerce
FAQs on Accounting Test Time - Valuation of Goodwill 1 - Class 12, Acountancy Video Lecture - Commerce
| 1. What is goodwill in accounting? |  |
Ans. Goodwill in accounting refers to the intangible asset that represents the reputation, customer base, and brand value of a company. It is the difference between the purchase price of a company and the fair value of its identifiable net assets.
| 2. How is goodwill calculated? | |
Ans. Goodwill is calculated by subtracting the fair value of a company's identifiable net assets from the purchase price paid for the company. It is important to note that goodwill can only be recognized when an acquisition takes place.
| 3. Can goodwill have a negative value? | |
Ans. Yes, goodwill can have a negative value. This occurs when the purchase price paid for a company is less than the fair value of its identifiable net assets. In such cases, the negative goodwill is recognized as a gain in the acquirer's financial statements.
| 4. How is goodwill tested for impairment? | |
Ans. Goodwill is tested for impairment annually or whenever there is an indication of potential impairment. The impairment test involves comparing the carrying amount of the reporting unit (including goodwill) with its fair value. If the carrying amount exceeds the fair value, impairment is recognized.
| 5. Can goodwill be amortized? | |
Ans. No, goodwill cannot be amortized. Instead, it is subject to an annual impairment test to assess whether its carrying amount exceeds its fair value. If impairment is identified, the carrying amount of goodwill is reduced accordingly. Amortization is only applicable to certain intangible assets with finite useful lives.
Related Exams
About this Video
|
1.5K Views |
|
4.73/5 Rating |
|
Nov 16, 2024 Last updated |
Accounting Test Time - Valuation of Goodwill 1 - Class 12, Acountancy for Commerce2024 is part of Commerce preparation. The notes and questions for Accounting Test Time - Valuation of Goodwill 1 - Class 12, Acountancy
have been prepared according to the Commerce exam syllabus. Information about Accounting Test Time - Valuation of Goodwill 1 - Class 12, Acountancy covers all important topics
for Commerce2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises
and tests below for Accounting Test Time - Valuation of Goodwill 1 - Class 12, Acountancy.
Introduction of Accounting Test Time - Valuation of Goodwill 1 - Class 12, Acountancy in English is available as part of our Commerce preparation & Accounting Test Time - Valuation of Goodwill 1 - Class 12, Acountancy in Hindi
for Commerce courses. Download more important topics, notes, lectures and mock test series for Commerce Exam by
signing up for free.
Description
Video Lecture & Questions for Accounting Test Time - Valuation of Goodwill 1 - Class 12, Acountancy Video Lecture - Commerce - Commerce full syllabus preparation | Free video for Commerce exam.
Information about Accounting Test Time - Valuation of Goodwill 1 - Class 12, Acountancy
Here you can find the Accounting Test Time - Valuation of Goodwill 1 - Class 12, Acountancy defined & explained in the simplest way possible. Besides explaining types of Accounting Test Time - Valuation of Goodwill 1 - Class 12, Acountancy
theory, EduRev gives you an ample number of questions to practice Accounting Test Time - Valuation of Goodwill 1 - Class 12, Acountancy tests, examples and also practice Commerce tests.
|
Explore Courses for Commerce exam
|
|
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
Related Searches
Previous Year Questions with Solutions
,Extra Questions
,Viva Questions
,study material
,ppt
,Accounting Test Time - Valuation of Goodwill 1 - Class 12
,Acountancy Video Lecture - Commerce
,practice quizzes
,mock tests for examination
,Sample Paper
,Free
,Important questions
,Objective type Questions
,shortcuts and tricks
,MCQs
,Accounting Test Time - Valuation of Goodwill 1 - Class 12
,past year papers
,Accounting Test Time - Valuation of Goodwill 1 - Class 12
,Acountancy Video Lecture - Commerce
,Semester Notes
,Exam
,video lectures
,Summary
,Acountancy Video Lecture - Commerce
;
Study Accounting Test Time - Valuation of Goodwill 1 - Class 12, Acountancy on the App
Students of Commerce can study Accounting Test Time - Valuation of Goodwill 1 - Class 12, Acountancy alongwith tests & analysis from the EduRev app,
which will help them while preparing for their exam. Apart from the Accounting Test Time - Valuation of Goodwill 1 - Class 12, Acountancy,
students can also utilize the EduRev App for other study materials such as previous year question papers, syllabus, important questions, etc.
The EduRev App will make your learning easier as you can access it from anywhere you want.
The content of Accounting Test Time - Valuation of Goodwill 1 - Class 12, Acountancy is prepared as per the latest Commerce syllabus.
|
© EduRev
|
Education Revolution
|
Follow Us
|
Signup to see your scores
go up
within 7 days!
within 7 days!
Takes less than 10 seconds to signup