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Goodwill is classified as a non-current asset. It arises when a company acquires another business for more than the fair value of its identifiable net assets, reflecting intangible factors like brand reputation and customer relationships. Goodwill is not expected to be converted into cash within a year, distinguishing it from current assets.
What else can I help you with?
Is good will current or non current asset?
1. Goodwill is an intangible asset as it doesn't have any physical existence it can be treated as fixed assets as goodwill is generally amortized in more than one fiscal year like any tangible asset
Is fixtures and fittings a current asset or a non current asset?
non current
Is premises a current asset or non current asset?
non-current assets.
Is freight a current asset or non current asset?
it is a expense
Is Closing Inventory is it a current asset?
is closing inventory a current or non current asset
Is good will current or non current asset?
1. Goodwill is an intangible asset as it doesn't have any physical existence it can be treated as fixed assets as goodwill is generally amortized in more than one fiscal year like any tangible asset
Is money lent by a bank a current asset or non current asset?
non current asset
Is premises a current asset or non current asset?
non-current assets.
Is fixtures and fittings a current asset or a non current asset?
non current
How to account for the goodwill in the financial statement?
Balance Sheet- Noon Current Asset- intangable Asset
Is freight a current asset or non current asset?
it is a expense
Is goodwill a financial asset?
According to the FASB, goodwill is defined as an asset.
Is Closing Inventory is it a current asset?
is closing inventory a current or non current asset
Is warranty expense a current or non-current asset?
An expense is not an asset at all.
Is accounts receivables a fixed asset or intangible asset?
The answer is neither one. Accounts receivable are a current asset; neither an intangible asset (e.g. goodwill) nor a fixed asset (e.g. plant and equipment).
Why do amount for vehicle appear under non current asset and current asset?
Because it's a fixed asset
What is an unidentifiable asset?
Goodwill is an unidentifiable asset
