Goodwill

T. H. Donaldson
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T. H. Donaldson: J. P. Morgan

Chapter 2 in The Treatment of Intangibles, 1992, pp 15-31 from Palgrave Macmillan

Abstract: Abstract Businessmen and economists use the word ‘goodwill’ to describe the intangible and unquantifiable aspects of a company which give it an earning power, and therefore a value, beyond that of its mere assets: things such as the quality of service, reliability, style, innovative flair, and imagination. Accountants, however, allow goodwill only when one company acquires another, and then only as an arithmetic differential; in effect, they define it as any amount paid by the acquirer above the book (i.e. accountant’s definition of) value of the acquired company, regardless of the reason why a buyer was prepared to pay that additional amount.

Keywords: Cash Flow; Balance Sheet; Sale Price; Purchase Price; Replacement Cost (search for similar items in EconPapers)
Date: 1992
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DOI: 10.1007/978-1-349-22484-5_2

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