1. Intangible assets - financial reporting.
Goodwill is an intangible asset representing the additional premium - in excess of the book value of net assets - paid to acquire control of a business.
Also known as positive goodwill.
2. Financial reporting - consolidated accounts.
The excess of the total book value of the whole business, above the net value of its individual assets and liabilities.
Relevant accounting standards include IFRS 3 and IAS 38 under IFRS, ASC 350 under US GAAP, and Sections 18, 19 and 27 of FRS 102 under UK GAAP.
3. Intangible assets - reputational risk management.
The positive reputation of a business.
It can sometimes be estimated as the difference between the market value of a business and its adjusted book value.
- Acquisition accounting
- ASC 350
- Book value
- Consolidated group accounts
- Financial reporting
- FRS 102
- Goodwill on consolidation
- IAS 38
- IFRS 3
- Intangible assets
- International Financial Reporting Standards (IFRS)
- Market value
- Negative goodwill
- Net assets
- Reputational risk
- Research & development
- UK GAAP
- US GAAP