Goodwill can be recorded only when a business is purchased. Does this result in similar businesses having

Question:

can be recorded only when a business is purchased. Does this result in similar businesses having incomparable financial statements?

Goodwill
Goodwill is an important concept and terminology in accounting which means good reputation. The word goodwill is used at various places in accounting but it is recognized only at the time of a business combination. There are generally two types of...