Goodwill
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Description
The present value of expected future earnings of a business in excess of the earnings normally realized in the industry. Recorded when a business entity is purchased at a price in excess of the fair value of its net identifiable assets less liabilities.
Concept Prerequisite
Wikipedia Reference
http://en.wikipedia.org/wiki/Goodwill (accounting)
Learning Material
Covered in Topic(s)
| Plant & Intangible Assets |