Unformatted text preview: s recommended with no
limit specified: this is the case in Austria, Belgium and Ireland.
The exceptional treatment of writing off goodwill against reserves is no longer adopted by the
IASC, and is therefore more rarely recommended in national standards – only Denmark and
the Netherlands still allow it. The recent UK standard FRS 10 no longer allows it, which
shows the important role played by IASC standards in the move towards harmonization of
The concept of impairment put forward by the IASC has been adopted by some countries,
also within the Anglo-Saxon model: the Netherlands for goodwill, the UK for other
intangibles and goodwill, and Canada for other intangible assets.
Finally, only three countries in the Anglo-Saxon model, in addition to the IASC, allow
revaluation of intangible assets: Ireland, the UK, Australia.
Table 6 therefore illustrates how IASC standards have a clear influence. This supports our
idea that as far as intangibles are concerned, harmonization may already be under way....
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This note was uploaded on 05/02/2013 for the course ECONOMIC economics taught by Professor Economics during the Fall '13 term at Elmont Memorial High School.
- Fall '13
- The Land