Goodwil

s.v.goplani (Querist) 30 June 2010 This query is : Resolved
How to calculate goodwill of partnership firm ? can any one provide me judgements of goodwill of firm as intangible assets and treatment of goodwill in books of accounts ? (my question is related with partnership firm 30 years old). Best regards.

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B K Raghavendra Rao (Expert) 03 July 2010
No yardstick. Goodwill is one's imagination and not measurable. By approximation and one's whim it is demanded.

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