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Goodwill is a kind of “good name” of a person and is taken into account in its intangible assets along with copyrights, know-how and trademarks. Goodwill can be either positive or negative. A positive business reputation is associated with a positive attitude of counterparties to its owner, with trust in it and confidence in a positive result of cooperation. Negative business reputation shows the instability of the position of its owner in the economic turnover, distrust of it on the part of counterparties.

Goodwill can be judged by both qualitative and quantitative indicators. An example of a quantitative indicator is the value of business reputation used in Russian economic practice for accounting of intangible assets: the value of business reputation is defined as the difference between the current market price offered to the seller (owner) of an asset when acquiring an enterprise as a property complex (in whole or parts thereof), and the value of all assets and liabilities on the balance sheet at the date of purchase (acquisition), the so-called goodwill (a concept used in foreign business practice).

Goodwill

Goodwill (English Goodwill) - an economic term used in accounting, trading operations to reflect the market value of a company minus the carrying amount of equity. Goodwill is a brand of a company, established business relations, a trademark, and the company's reputation in the world.

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