This paper is dedicated to the research of subsequent evaluation of goodwill and is mainly aimed at a comparative analysis of 'amortization approach' and 'impairment-only approach'. Under a lot of criticism concerning goodwill amortization, in 2004 in IFRS the approach of 'goodwill amortization' was replaced by 'impairment-only' approach. In spite of the validity of the 'impairment testing' approach to the subsequent accounting for goodwill, which is based on the essence of treatment of 'goodwill', the application of this method in practice by companies has revealed a number of significant drawbacks. The return to the 'amortization approach' can make the financial reports more transparent and eliminate 'subjective factor'. At the same time, 'impairment of goodwill' approach enables companies to reflect the specific features of their activities and the effect from business combination. The research was carried out to estimate the impact of chosen method subsequent accounting for goodwill (impairment or amortization) through the analysis of sample of companies located in different countries. Besides, it presents 'pros and cons' these methods.