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QUESTION

In recent years, the treatment of the intangible asset of goodwill has undergone significant change as a result of the implementation of Financial

In recent years, the treatment of the intangible asset of goodwill has undergone significant change as a result of the implementation of Financial Accounting Standards Board (FASB) Statement 142, "Goodwill and Other Intangible Assets." Goodwill is the value of a going concern. You cannot touch it. You cannot bank it. You cannot sell it separately. By itself, it is valueless.

In your post, address the following questions:

  • Assuming that all unrelated acquisitions are at arm's length, why is the accurate valuation of goodwill so important?
  • Why should you be concerned about it?
  • Do you think that FAS 142 helped provide accuracy to the valuation of goodwill?
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