Introduction
The accounting for valuation and impairment of goodwill has received important recognition in popular areas. However, due to the economic crisis in the United States and the ongoing steps towards the convergence with the IFRS, a focus on the potential valuation of goodwill has become to the forefront. This project will examine the accounting issues of valuation of goodwill for the major areas of concern for the corporate financial position such as economic, social, and legal or political issues under each accounting body (FASB and IASB).
Government patronage/ support The products of a company will experience high demand especially ...