A Ltd. still have over RM800 million of goodwill in the list of assets. The company also has a large depreciation expenses, amortization costs and provisions that have been charges to the profit and loss account. many analyst said that these figures are not relevant to decision making process in managerial accounting and will not affect cash flow of a business

a) How did goodwill get created in accounting of a company (10 marks)

b) Why are depreciation and amortization created in accounting (5 marks)

c) Can we do away with all the above practices in accounting to make accounting more meaningful and objectives (5 marks)