Can goodwill generated on acquisition be amortized?

Question

Goodwill is generated on acquisition. Can it be amortised over the years? Does the treatment differ for public co, private co and banks?

Answer 1

there is no need to amortise goodwill..rather its required to be impaired out...suppose cost of any investment in subsidiary is greater then FMV  of investment, then it would be required for company to charge impairment expense but the company should first charge this impaiment expense to goodwill means first you have to charge impairment expense to goodwill then to other element of investment