Goodwill in the process of privatization in Poland

Aldona Kamela-Sowinska

European Accounting Review, 1995, vol. 4, issue 4, 765-776

Abstract: Privatization in Poland consists of the transformation of the state enterprise into an association of capital, giving third parties an access to shares, or in the liquidation of state enterprise in order to take over its assets. Goodwill in the process of privatization in Poland arises at the moment of transfer of the right of state-owned enterprises by the way of: purchase or sale of an enterprise as a whole; bringing in assets in kind into a company; merger; purchasing of the controlling blocks of shares of a company; and leasing. According to the new Polish Accounting Act, which came into effect on 1 January 1995, goodwill is defined as the excess of the cost of the acquired company or a specific section thereof over the sum of the fair market value of its identifiable individual assets, excluding book value, as before the year 1994. Goodwill should be allocated to financial results for a period normally not in excess of five years.

Date: 1995
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DOI: 10.1080/09638189500000049

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