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sentence

English translation: Complete sentence from IAS22

11:29 Nov 23, 2002
English language (monolingual) [PRO]
Bus/Financial - Accounting / accountancy
English term or phrase: sentence
This is a sentence from IAS 22:
If the goodwill (negative goodwill) is not assigned to the goodwill (negative goodwill) at the date of acquisition is deemed to be properly determined.

Am I right in saying that this sentence is incomplete? If not, what can this sentence mean?!
Eva Blanar
Hungary
Local time: 19:43
Selected answer:Complete sentence from IAS22
Explanation:
Here's what this sentence reads in IAS22 (and the IASB's German translation):
[[EN]] If the goodwill (negative goodwill) is not restated, the amount assigned to the goodwill (negative goodwill) at the date of acquisition is deemed to have been properly determined.

[[DE]] Wenn der Geschäfts- oder Firmenwert (negativer Unterschiedsbetrag) nicht berichtigt wird, wird der am Tag des Unternehmenserwerbes dem Geschäfts- oder Firmenwert (negativen Unterschiedsbetrag) entsprechende Betrag als richtig bestimmt angesehen.
Selected response from:

Ralf Lemster
Germany
Local time: 19:43
Grading comment
Wow! Thanks: I knew the sentence was incomplete, but I was told it was impossible! Thanks a lot, have a nice weekend, Eva
4 KudoZ points were awarded for this answer



SUMMARY OF ALL EXPLANATIONS PROVIDED
5 +2Complete sentence from IAS22
Ralf Lemster
5you are right !
Crown (X)
4Maybe it needs ", it" before "is determined"
Arthur Borges
3goodwill versus negative goodwill
#41698 (LSF)


  

Answers


4 mins   confidence: Answerer confidence 5/5
you are right !


Explanation:
Luck :)

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Note added at 2002-11-23 11:42:29 (GMT)
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it seems, \"to\" is excessive, then it would be \"if the goodwill is not assigned, ..............

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Note added at 2002-11-23 11:55:53 (GMT)
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or, \"if no goodwill has been assigned before, that at the date of acquisition is deemed...

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Note added at 2002-11-23 12:00:54 (GMT)
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it says that if no goodwill has been assigned for a business, the goodwill (applicable) at the date of acquisition is deemed to be properly determined

what i would say

Crown (X)
Local time: 20:43
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5 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
Maybe it needs ", it" before "is determined"


Explanation:
"Goodwill" is your customer base. Negative goodwill is zero customers.

It just means that once the establishment has been sold, the buyer can't come back and claim money afterwards.

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Note added at 2002-11-23 11:35:47 (GMT)
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Sorry, PLEASE READ: \", it\" before \" is DEEMED\"

Arthur Borges
China
Local time: 01:43

Peer comments on this answer (and responses from the answerer)
agree  Paula Ibbotson
6 mins
disagree  Crown (X): goodwill covers all the intangible assets of a business
23 mins
  -> Fair, but the counting starts with the client base.
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3 hrs   confidence: Answerer confidence 5/5 peer agreement (net): +2
Complete sentence from IAS22


Explanation:
Here's what this sentence reads in IAS22 (and the IASB's German translation):
[[EN]] If the goodwill (negative goodwill) is not restated, the amount assigned to the goodwill (negative goodwill) at the date of acquisition is deemed to have been properly determined.

[[DE]] Wenn der Geschäfts- oder Firmenwert (negativer Unterschiedsbetrag) nicht berichtigt wird, wird der am Tag des Unternehmenserwerbes dem Geschäfts- oder Firmenwert (negativen Unterschiedsbetrag) entsprechende Betrag als richtig bestimmt angesehen.

Ralf Lemster
Germany
Local time: 19:43
Native speaker of: German
PRO pts in category: 8
Grading comment
Wow! Thanks: I knew the sentence was incomplete, but I was told it was impossible! Thanks a lot, have a nice weekend, Eva

Peer comments on this answer (and responses from the answerer)
agree  Crown (X): , it was clear that "to" was excessive
14 mins
agree  AhmedAMS
43 days
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3 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5
goodwill versus negative goodwill


Explanation:
'Goodwill' is the difference between what an acquirer pays to acquire a company and the Net Asset Value of the acquired company. Normally the acquirer would have to pay more than the NAV otherwise the present owner are unlikely to sell.

So the acquirer has to write off the difference on his balance sheet, while to the previous owner, it is 'extra-ordinary gain'.

I may rewrite the sentence as:
'If the goodwill(or negative goodwill) is not assigned at the date of acquisition, [the acquisition price] is deemed to be properly determined [exact NAV?]'

#41698 (LSF)
Malaysia
Local time: 01:43
Native speaker of: Native in EnglishEnglish
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