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what is goodwill?
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Answer / vinay
Good will is the intangible asset of the company, it is
earned in the name and fame of the organisation. It can
valued only through amount while transferring the asset,
liquidation of the company.
| Is This Answer Correct ? | 15 Yes | 0 No |
Answer / rajamouli palakurthi
The value of reputation of the business/person by name or
fame is called goodwill
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / jay jain
Goodwill in accounting is an intangible asset that arises when one company acquires another, but pays more than the fair market value of the net assets (total assets - total liabilities). The goodwill amounts to the excess of the "purchase consideration" (the money paid to purchase the asset or business) over the total value of the assets and liabilities. It is classified as an intangible asset on the balance sheet, since it can neither be seen nor touched. However, according to International Financial Reporting Standards (IFRS), goodwill is never amortized. Instead, management is responsible for valuing goodwill every year and to determine if an impairment is required. If the fair market value goes below historical cost (what goodwill was purchased for), an impairment must be recorded to bring it down to its fair market value. However, an increase in the fair market value would not be accounted for in the financial statements.
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Answer / digamber
goodwill is the repution of any business.it attract more
more cretitors customers. we can esly get the loan from any
intitution such as bank, money lenders.
| Is This Answer Correct ? | 0 Yes | 1 No |
Answer / m.raja
Goodwill is a asset of the firm. it can not be sale.it
makes the quality of the particular company products.
| Is This Answer Correct ? | 0 Yes | 1 No |
how to we pass a purchase entry in item invoice mode where some advance has been paid to the party. the purchase entry should get offset with the advance payment entry so that it does not appear in the bill outstanding or bills due list. please guide.thank you
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