Business Daily from THE HINDU group of publications
Monday, Aug 25, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Monday, Aug 25, 2008 ePaper | Mobile/PDA Version | Audio |
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Mentor
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Accounting Standards Columns - For the Asking Goodwill accounting Can one adjust the loss on merger against the security premium account? Gopal Sharma, emailIt is not clear what exactly you mean by loss on merger. Perhaps, you are referring to the excess purchase consideration paid vis-À-vis the value of the net assets taken over. This is recognised as goodwill under the purchase method and should be shown as such as per AS-14. But if the pooling of interest method becomes applicable, goodwill cannot be shown and has to be hidden under general reserves or profit and loss account. Section 78 of the Companies Act does not allow this to be set off against securities premium account. S. MURLIDHARAN More Stories on : Accounting Standards | For the Asking
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