Accounting for acquired goodwill has been a controversial issue for many years. In the United States, the

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Accounting for acquired goodwill has been a controversial issue for many years. In the United States, the amount of acquired goodwill is capitalized and not amortized. Globally, the treatment of goodwill varies significantly, with some countries not recognizing goodwill as an asset. Professors Johnson and Petrone, in “Is Goodwill an Asset?” discuss this issue. 


Required: 

1. In your library or from some other source, locate the indicated article in Accounting Horizons, September 1998. 

2. Does goodwill meet the FASB’s definition of an asset? 3. What are the key concerns of those that believe goodwill is not an asset?

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Intermediate Accounting

ISBN: 9781259722660

9th Edition

Authors: J. David Spiceland, James Sepe, Mark Nelson, Wayne Thomas

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