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Glossary Term: GOODWILL

Definition(s) for GOODWILL:


1. ) In accounting, goodwill is any advantage, such as a well-regarded brand name or symbol, that enables a business to earn higher profits than its competitors. During an acquisition, goodwill value in excess of the acquired company's liquidation value is treated as an intangible asset. Because this intangible asset has no independent market or liquidation value (unlike, for instance, a factory, which can be sold for cash), accepted accounting principles require that goodwill be written off by the acquiring company over a period of time up to 40 years. The process of writing off goodwill is called amortization. Both depreciation and amortization expenses are subtracted from a company's operating revenues to calculate net income

2. ) ‘‘Purchase acquisition’’ in the entry for ‘‘business combinations.’’



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