Procter & Gambles 2014 balance sheet reported a goodwill balance of $47.3 billion. Describe what goodwill is,
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Procter & Gamble’s 2014 balance sheet reported a goodwill balance of $47.3 billion. Describe what goodwill is, how it was originally recorded, and what it indicates about Procter & Gamble. Further, P&G carried over $53.7 billion in goodwill in 2013. Discuss what happened to the account balance in 2014.
GoodwillGoodwill 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... Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...
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Goodwill is the amoun t paid above the fair value of the identifi...View the full answer
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