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Grab a sandwich and learn from the best! On the last Friday of each month, join our session led by either the ICB learning team, or one of our trusted training providers. The sessions will cover some of the fundamentals of bookkeeping – and vary with a deeper dive on more complex subjects. There will be an emphasis on practical skills that will enhance your everyday working life. These informal sessions are also an opportunity for you to pose your questions, and suggest future topics for further analysis.
May's session is: Goodwill adjustments
We’ll unpack the concept of goodwill in the context of the ICB M5 syllabus and explain why it's relevant specifically when the structure of a partnership changes. You’ll learn why goodwill is not something that typically appears in the financial statements, and why its recognition becomes important when partners join or leave a firm.
We'll explore:
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Why goodwill arises and how it's linked to business value
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What distinguishes goodwill in partnerships from other business structures
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Why you won't see goodwill adjustments in company accounts or the M7 exam
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The real-world factors behind business valuation that don’t appear in the books
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How goodwill adjustments ensure fairness during changes in ownership
Whether it’s a partner retiring or a new one coming in, this session will help you understand the reasoning behind those bookkeeping adjustments — and why they reflect more than just numbers on a page.
