07-04-2006, 01:43 AM
<blockquote id="quote"><font size="1" face="Verdana, Tahoma, Arial" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by Shoaib Ansari</i>
<br />good.... A very comprehensive answer ...
as far as companies ordinance is conceren we need to amortize the goodwill within 20 years after its recognation / purchase ...plz correct me if i am wrong...
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
Companies Ordinace doesnt specify such requirment. Perhaps you are refering to Income Tax Ordinance, 2001. Moreover after the adoption of IFRS 3, the concept of amortization is no more valid. Now onwards the goodwill shall be reveiwed for impairment at each balance sheet date.
<br />good.... A very comprehensive answer ...
as far as companies ordinance is conceren we need to amortize the goodwill within 20 years after its recognation / purchase ...plz correct me if i am wrong...
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
Companies Ordinace doesnt specify such requirment. Perhaps you are refering to Income Tax Ordinance, 2001. Moreover after the adoption of IFRS 3, the concept of amortization is no more valid. Now onwards the goodwill shall be reveiwed for impairment at each balance sheet date.
