I am under the impression that for example if a company started trade 1 Jan 2006, had a 31 Dec year end date, acquired goodwill of £100,000, and this was being written off over 20 years, then under old rules at 31 December 2015 £50,000 would have been amortised. Applying FRS in the transitional period I was under the impression that you looked at goodwill right from the start and applied the FRS 102 10 year amortisation rule from that date, which in my example would have resulted in the goodwill amortisation at date of transition being NIL. Is this correct? I have seen accounts prepared by others which follow this method, but others where the 10 year amortisation is being applied from date of transition, based on NBV at that point. Also, if the former is the correct treatment, and the goodwill is tax deductible, can the company claim a 'one off' amortisation deduction for the accelerated amortisation in the transitional year?