Define: Acquired Goodwill

UK Accounting Glossary

Definition: Acquired Goodwill


Quick Summary


Further details about Acquired Goodwill are provided within Section 19 of the Financial Reporting Standard Applicable in the UK and Republic Of Ireland. The appropriate International Accounting Standards are IAS22, IAS36 and IAS38.



What is the dictionary definition of Acquired Goodwill?

Dictionary Definition


This refers to goodwill acquired when an business entity is purchased as opposed to that which has been internally generated.

Positive goodwill arises where the purchase cost exceeds the aggregate fair values of the identifiable assets and/or liabilities.

 


Full Definition


Further details about Acquired Goodwill are provided within Section 19 of the Financial Reporting Standard Applicable in the UK and Republic Of Ireland. The appropriate International Accounting Standards are IAS22, IAS36 and IAS38.


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