This report provides an in-depth analysis of goodwill, a crucial concept in financial accounting. It defines goodwill as an intangible asset arising from business acquisitions, explaining how it's calculated as the difference between the fair value of identifiable assets and liabilities and the purchase consideration. The report details the reporting of goodwill under 'Intangible Assets' and the annual impairment tests. It includes an acquisition analysis with examples, including the fair value of assets and liabilities, consideration transferred, and pre- and post-acquisition entries. The report also illustrates the accounting treatment of dividends, impairment losses, and other relevant transactions, providing a comprehensive understanding of goodwill accounting principles and practices. The report also includes the relevant references.
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