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Goodwill and intangible assets are usually listed as separate items on a company's balance sheet. [4] [5] In the b2b sense, goodwill may account for the criticality that exists between partners engaged in a supply chain relationship, or other forms of business relationships, where unpredictable events may cause volatilities across entire ...
Goodwill or good will may also refer to: Goodwill (accounting), the value of a business entity not directly attributable to its assets and liabilities; Goodwill ambassador, occupation or title of a person that advocates a cause; Goodwill Games, a former international sports competition (1986–2000) Goodwill Industries, a for-profit business
An asset's initial book value is its actual cash value or its acquisition cost. Cash assets are recorded or "booked" at actual cash value. Assets such as buildings, land and equipment are valued based on their acquisition cost, which includes the actual cash cost of the asset plus certain costs tied to the purchase of the asset, such as broker fees.
An economic resource is a right that has the potential to produce economic benefits." [6] The definition under US GAAP (Generally Accepted Accounting Principles used in the United States of America): "An asset is a present right of an entity to an economic benefit." [7]
An economic entity is one of the assumptions made in generally accepted accounting principles. Almost any type of organization or unit in society can be an economic entity. Examples of economic entities in accounting are hospitals, companies, municipalities, and federal agencies.
Goodwill: the difference between the cost of the investment and the fair market value of the underlying assets. Purchase differentials need to be amortized over their useful life; however, new accounting guidance states that goodwill is not amortized or reduced until it is permanently impaired, or the underlying asset is sold.
A business valuation report generally begins with a summary of the purpose and scope of business appraisal as well as its date and stated audience. Following is then a description of national, regional and local economic conditions existing as of the valuation date, as well as the conditions of the industry in which the subject business operates.
In economics, an institution is defined thusly: a complex of positions, roles, norms and values lodged in particular types of social structures and organising relatively stable patterns of human activity with respect to fundamental problems in producing life-sustaining resources, in reproducing individuals, and in sustaining viable societal ...