How to present goodwill in financial statements
Paragraph 188 of the Thai Financial Reporting Standards for Non-Publicly Accountable Entities (“TFRS for NPAEs”) indicates that goodwill is not an intangible asset. Therefore, goodwill cannot be recognized and presented as an intangible asset in the financial statements.
Keywords: Mazars, Thailand, Accounting, TFRS, NPAEs, Goodwill, FAP
05 July 2017
Therefore, the aggregate amount of goodwill must be presented as a separate line item in the statement of financial position.
If an entity previously recognized goodwill as an intangible asset in the financial statements, the goodwill must be reclassified and presented as a separate line item in the financial statements.
For more information, please visit the Federation of Accounting Professions website.