As we close the 2017 fiscal year, let's examine the topic of Goodwill in Italy and its application to financial statements following changes to the national accounting principle, OIC 24.
Statement of Cash Flows are now considered independent and separate documents in Italy, and companies must prepare them as such for financial statements starting 1 January 2016.
With the introduction of IFRS 16, the International Accounting Standards Board has - for the first time in more than 30 years - changed the rules on accounting for operating and finance leases.
If the area has been purchased separately, it is necessary to make reference to the value inferable from the accounts or from the sale and purchase deeds.
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Ernst & Young
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