Goodwill

Goodwill is the excess of purchase price over the fair value of the identifiable assts and liabilities acquired in a business acquisition. It's a typical one of the unidetifiable intangible asset.

Example: Goodwill
W Corp. paid $600 million for the outstanding stock of P Corp. At the acquisition date, P reported the following Condensed balance sheet.

P Corp. - Condensed Balance Sheet
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----------------------------- Book Value (millions)
Current assets --------------------$80
Plant and equipment, net ----------760
Goodwil -----------------------------30
Liabilities --------------------------400
Stocksholders' equity ---------------470
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The fair value of the plant and equipment was $120 million more than recorded book value. The fair value of all other identifiable assets and liabilities were equal to their recorded book values. Calculate the amount of goodwill W should report on its consolidated balance sheet.
Answer:
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------------------------------ Book value(millions)
Current assets---------------------$80
Plant and equipment, net----------880
Liabilities--------------------------(400)
Fair value of net assets-------------560

Purchase price---------------------600
Less: Fair value of net assets-------(560)
Acquisition goodwill----------------40
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The plant and equipment was "written up" by $120 million to reflect fair value. The goodwill reported on P's balance sheet is an unidentifiable asset and is thus ignored in the calculation of W's goodwill.

商誉(goodwill)是指能在未来期间为企业经营带来超额利润的潜在经济价值，或一家企业预期的获利能力超过可辨认资产正常获利能力（如社会平均投资回报率）的资本化价值。商誉是企业整体价值的组成部分。在企业合并时，它是购买企业投资成本超过被并企业净资产公允价值的差额。

核心商誉论:美国财务会计准则委员会(FASB)于1999 年9月7日公布了一项征求意见稿,首次提出了“核心商誉”(core goodwill)的概念。

FASB认为,商誉可描述为由六个要素组成:(1)被收购企业净资产在收购日的公允市价大于其账面价值的差额。(2)被收购企业未确认的其他净资产的公允市价。(3)被收购企业存续业务“持续经营”(going-concern)构件的公允价值。(4)收购企业与被收购企业净资产和业务结合的预期协同效应的公允市价。(5)收购企业由于计量收购报价的错误而多计量的金额。尽管在所有现金交易中的收购价格不会出现计量错误,但如果是涉及到股票交换的交易,则很难说不会出现计量错误。(6)收购企业多支付或少支付的金额。

要素1和要素2都与被收购企业有关,它们从概念上讲都不是商誉。要素1反映的是被收购企业未确认净资产的利得,要素2只不过是指那些能够单独辨认但由于不能完全符合确认标准而未确认的无形资产。要素5和要素6与收购企业有关,它们从概念上讲也不是商誉,要素5是一个计量误差,要素6代表的则是收购企业的损失(在多支付的情况下)或利得(在少支付的情况 下)。只有要素3和要素4从概念上讲是商誉的一部分。要素3与被收购企业有关,它反映了被收购企业净资产的“超额组装价值”(excess assembled value)。它表示被收购企业事先存在的自创商誉或以前从企业兼并中收购的商誉。要素4与收购企业和被收购企业的结合有关,它反映了由合并而创造的“超 额组装价值”,即收购企业和被收购企业经营结合所产生的协同效应。FASB将要素3和要素4统称为“核心商誉”。