We prepare accounts which are unaudited and the director wants to know why we have amortised goodwill. I have been told by our accountants that goodwill must be amortised by law under the Companies Act. I have explained this to our director but he said that the goodwill in one of his other companies is not amortised and can't understand why we have to amortise it when our accounts aren't audited. Can anyone provide any further information on this subject for me?
19th Aug 2010 08:54