Balance sheets

“Only accountants know why goodwill is assigned money value on a balance sheet.”

“Every smart businessperson and fraudster knows. It is a cover for the bad times, when a scam is exposed. People cannot digest things, which go against their beliefs, even if those are true, and shirk it off as somebody’s vested interest.”

“Well… it makes me think. Don’t some people do it in their personal relationships?”

“Yes. Goodwill can get you more business, a job, a partner, an inheritance. And remember, accountants assign a value to goodwill only during a merger or acquisition. It has no standalone value.”

SoCS