Review of accounting for goodwill: Historical to current perspectives-Reference-Cited by-同舟云学术

Review of accounting for goodwill: Historical to current perspectives

Published:2011 Issue:3 Volume:8 Page:233-241
ISSN:1810-3057
Container-title:Corporate Ownership and Control
language:en
Short-container-title:COC

Author:

Shahwan Yousef

Abstract

Accounting for goodwill is one of the most controversial issues in financial reporting. It has been on the agenda of the International Accounting Standards Board (IASB) as well as the Accounting Standards Board of Australia, the UK, and the US. IASB has also identified accounting for intangible assets (including goodwill) as a high priority. The objective of the present paper is to review the developments of accounting standards for goodwill made by the USA, UK, Canada, Australia, and the IASB. Reference to accounting and financial regulations is made to explore the effect of standard developments in promoting uniformity of practice in accounting for goodwill. Content analysis approach is adopted in this study. It concludes that the current regulations to account for goodwill provide little and further developments are still ahead.

Publisher

Virtus Interpress

Subject

General Business, Management and Accounting

Link

https://virtusinterpress.org/IMG/pdf/10-22495cocv8i3c1p6.pdf

Reference21 articles.

1. Accounting Principles Board (1970a) APB Opinion No. 16: Business Combinations. American Institute of Certified Public Accountants. New York.

2. Accounting Principles Board (1970b) APB Opinion No. 17: Intangibles Assets. American Institute of Certified Public Accountants. New York.

3. Accounting Standards Board (1995) Goodwill and Intangible Assets. Working Paper, Accounting Standards Board, June.

4. Accounting Standards Board (1994) Statement of Standard Accounting Practice 22: Accounting for Goodwill. Accounting Standards Board, SSAP 22, September.

5. Accounting Standards Board (1996) Financial Reporting Exposure Draft 12: Goodwill and Intangibles Assets. Accounting Standards Board Publications, Keynes England.