At its very simplest, a partnership can be defined as a business entity that consists of two or more joint-owners that have come together to make a profit. These owners are collectively known as ...

There is a lot of discussion these days about accounting for goodwill, especially with respect to accounting issues subsequent to its acquisition. This debate is driven by managerial criticisms of ...

The Financial Accounting Standards Board has a project to review accounting for goodwill subsequent to its acquisition — again. The issue is whether to continue goodwill impairment testing as required ...

Assessing goodwill for impairment became more challenging during the COVID-19 pandemic because of significant changes in business operations and overall economic uncertainty. Considering goodwill ...

FASB is seeking comments on whether it should make changes to the accounting for certain identifiable intangible assets acquired in a business combination and subsequent accounting for goodwill. In an ...

Goodwill in business is an intangible asset that's recorded when one company is purchased by another. It's the portion of the purchase price that's higher than the sum of the net fair value of all of ...

The value of a business goes far beyond a collection of assets, inventories or a list of services. A whole series of intangible assets are usually a big part of it, including its brand name, its ...

The Securities and Exchange Commission (SEC) recently announced that United Parcel Service Inc. (UPS) has agreed to pay a $45 million penalty for materially misrepresenting its earnings by improperly ...