Discuss the different identification and disclosure requirements for goodwill purchased as part of an investment in a subsidiary and an associate.

Identification and disclosure of goodwill in an investment in a subsidiary and an associate:
- Goodwill on acquisition of a subsidiary is separately recognised in the consolidated financial statements and tested annually for impairment.
- An investment in an associate can also include purchased goodwill; however,this goodwill is not separately identified or disclosed in the investor's financial statements or tested for impairment separately from the investment asset.
- The reason for the different treatment of goodwill of an associate is because the acquisition cost of the investment is not required to be apportioned over all the assets acquired (i.e.,it is a 'one-line' consolidation procedure and goodwill is not required to be separately identified).