Accounting

Goodwill in Accounting

Goodwill in Accounting

Goodwill is an intangible asset that arises because of the acquisition of one company by another for the premium value. The worthiness of a company’s manufacturer, solid customer base, good customer contact, good employee contact and any patents as well as proprietary technology symbolize goodwill. Goodwill is regarded as an intangible asset because it is not a physical property like buildings as well as equipment. The goodwill account are located in the assets portion of a company’s balance sheet.