goodwill., Accounting Standards

Assignment Help:
Dear Sir,

I am an accountant working in a company with limited liability (WLL), one of the partners (A) will withdraw from our company. One of the existing partner (B) of the company will buy his share.

The amount which will be paid for the partner A will be more than his capital. Is it possible to record the excess amount as a goodwill?

Please give me your suggestion and the scope of this issue from the International Financial Reporting Standard (IFRS)or (IAS).
Best regards

Related Discussions:- goodwill.

Accounting Practices, Describe three examples of financial accounting pract...

Describe three examples of financial accounting practices and for each, explain how the practice assists in the decision making process

American women''s society of certified public accountants - a, It is a nati...

It is a national organization of female Certified Public Accountants (CPAs) in America. The AWSCPA was established to encourage the interests of female CPAs in America by diverse

Accountancy–1ECO-02, The book of Deven Verma could not be tallied. The acco...

The book of Deven Verma could not be tallied. The accountant transferred the difference of Rs. 1,270 in the suspense account on the debit side. The following mistakes were found la

Exploration costs, are exploration costs assets to Mining companies?

are exploration costs assets to Mining companies?

Lease, why Accountant prefer commercial substance than legal form?

why Accountant prefer commercial substance than legal form?

Preparation and analysis of final accounts, The main function of accounting...

The main function of accounting is to accumulate accounting data so as to calculate the profit and loss made through the business firm throughout and also to KNOW the financial pos

Sacred grounds coffee shop, To finish  this scenario, use the Confidence In...

To finish  this scenario, use the Confidence Interval Calculator Sheets 1,2,3. The Sacred Grounds coffee shop in Dead horse, AK, is considering changing its coffee brewing units

Financial accounting standards board, In 1973 and independent seven-member ...

In 1973 and independent seven-member full-time Financial Accounting Standards Board (FASB) replaced the Accounting Principles Board. The FASB has published numerous Statements of F

Learning objectives of accounting, Q. Learning objectives of Accounting? ...

Q. Learning objectives of Accounting? Describe and identify the three basic forms of business organizations. differentiate between the three types of activities per

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd