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Goodwill Bubble , Fallacy of Impairment only Model and Reintroduction of Goodwill Amortisation

March 22, 2021[2021] 125 taxmann.com 319 (Article)
Abstract: By virtue of IFRS 3 Business Combinations and IAS 38 Intangible Assets, entities recognize goodwill out of acquisition premium. Goodwill is accounted as an intangible asset having indefinite useful life, and tested for impairment at least annually. As per Capital IQ data in February 2019, goodwill accounts for about USD 8 trillion of all listed companies and concern has been raised about the overvalued goodwill sitting on the balance sheet.
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