The term goodwill may mean one thing to the general public and quite a different thing to an accountant. The general public usually thinks of goodwill as the excellent reputation that a business has with its customers. To an accountant, goodwill means the potential of a business to earn a rate of return in excess of the average rate of return for similar businesses in that industry. Goodwill is the result of competitive advantages, customer recognition, a favorable location, outstanding management, excellent employee relations, and other factors that a successful company continuously develops (Cote, 2007). The New York State Society of Certified Public Accountants define goodwill as the premium paid in the acquisition of an entity over the fair value of its identifiable tangible and intangible assets less liabilities assumed. For example if a company was to purchase McDonalds they would also gain McDonalds favorable reputation and brand that it has built during the course of the building of the company. While this is definitely a bonus for the purchasing company, this is ultima...
Although Goodwill International is successful, it is not efficient and needs to implement additional strategies to improve its efficiency. There are a number of recommendations made in this paper to assist Goodwill International to enhance its efficiency. Some of the strategies include: improvement of its communication strategy, enhancement of its fiscal health, implementation of new marketing strategies, introduction of employee performance measurement techniques, and changing its donation policies to include more items.
Goodwill was first founded in 1902 in Boston by a Methodist minister, Rev. Edgar J. Helms (Goodwill, 2015). He collected used goods and clothes from the wealthy areas around the city and hired the underprivileged to restore and repair the used items (Goodwill, 2015). The restored goods were then sold or donated to the poor workers who mended them (Goodwill, 2015). This was the foundation of today 's $4 billion nonprofit of the Goodwill Industries that is responsible for providing training and rehabilitation for people with limited access to employment (Goodwill, 2015). Henceforth, the mission of the Goodwill industries of South Central California (GISCC) was established.
People perpetrate seemingly selfless acts almost daily. You see it all over the news; the man who saved that woman from a burning building, the mother who sacrificed herself to protect her children from the bomb blast. But how benevolent are these actions? Are these so-called “heroes” really sacrificing themselves to help others? Until recently, it was the common belief that altruism, or selfless and unconditional kindness, was limited primarily to the human race. However, within the last century, the works of several scientists, most prominently George Price, have provided substantial evidence concluding that altruism is nothing more than a survival technique, one that can be calculated with a simple equation.
Depreciation helps match the expense of using long lived assets with the revenues the assets helped to produce> what means is that Delta ns Singapore pole Air line depreciates one of its airplanes, it is trying to match the cost of air flight to the revenue that air craft helped to produce. Because air crafts can be an item used for more than one income statement period, Delta and Singapore Airlines don't recognize the air crafts entire cost as an expense immediately. Instead, the companies record them as assets on the balance sheet. Then, in each year of the assets useful life, the companies should recognize a portion of the Item's costs as an expense.
The framework question, “What do we owe to each other?”, addresses complex issues of human existence. No matter the response, the answer is subjective, related to one’s own personal experiences and their understanding of morality and inequality. Yet, an individual’s answer can be further influenced by academic study and helping others in need. Philosophy, theology, and service influence the understanding of the question, “What do we owe to each other?” by allowing one to explore problems of human morality, experience human connection through theology, and feel sympathy for others.
Accounting profit can serve as an alternative to intrinsic value. But Buffett states that “...we do not measure the economic significance or performance of Berkshire by its size; we measure by per-share progress.” Accounting reality was conservative, backward looking, and governed by GAAP (measures in terms of net profit), therefore Buffett rejects this alternative. According to the world’s most famous investor, investment decisions should be based on economic reality, not on accounting
As past research has implied, legitimacy aids and advocates for compliance with the law. Due to recent issues of police brutality and police shootings, some of society’s trust and confidence in law enforcement has decreased. The primary role of police officers is to both serve their communities in times of crisis and protect the members of the community. As Tyler and colleagues have shown, legitimacy – typically operationalized as felt obligation to obey authorizes and trust and confidence in the relevant institutions – plays an important role in achieving such compliance. The study
Acquisition analysis includes determining consideration transferred, goodwill (or gain on bargain) and fair value of assets at the date of acquisition. When Woolly Ltd purchased Jumper Ltd they paid more than the consideration transferred (fair value of assets less liabilities) of the entity, thus there was goodwill provided. Business combination valuation entries occur when assets or liabilities fair value differs from their carrying amount at the date of acquisition. As Jumper Ltd had assets with a higher fair value than carrying amount there was reasoning for BCVR entries. Intragroup transactions come about through the transfer of assets or liabilities such as inventory or dividends from the subsidiary to the parent or vice versa (within the group).
I learned about the importance of giving back at the age of 11yr old and putting the very important needs of others in front of my own. Volunteering in a homeless shelter at a young age opened my eyes. Where I was placed to give food, clothes, money & hygiene products to people in need. Where would I be right now without the help of God, my mother, family& friends and the church community”. Giving a helping hand to the people in the community is Something we should always do. In the ("bible Acts 20:35 says in everything I did, I showed you that by this kind of hard work we must help the weak, remembering the words the lord Jesus himself said: it is more blessed to give than to receive"). Having a compassionate heart for the community blesses the congregation.
Empathy is the ‘capacity’ to share and understand another person’s ‘state of mind’ or their emotion. It is an experience of the outlook on emotions of another person being within themselves (Ioannides & Konstantikaki, 2008). There are two different types of empathy: affective empathy and cognitive empathy. Affective empathy is the capacity in which a person can respond to another person’s emotional state using the right type of emotion. On the other hand, cognitive empathy is a person’s capacity to understand what someone else is feeling. (Rogers, Dziobek, Hassenstab, Wolf & Convit, 2006). This essay will look at explaining how biology and individual differences help us to understand empathy as a complex, multi-dimensional trait.
Individualism is rampant in our world. More and more people are concerned with what they want, when they want it and how they want it. They put blinders on and go about their work, convinced that “looking out for number one” is the only way to succeed and find happiness. If everyone were to adopt this way of thinking and living, the world would become violently competitive, gloomy, and callous. However, if we open our lives and give service to those less fortunate than ourselves, we allow our hearts to receive immeasurable happiness. There are countless members of society, who make service and ultimately self-sacrifice a part of their everyday lives. One of the greatest examples the world has of a self-sacrificing person is Mother Teresa. She said, “In this life we cannot do great things. We can only do small things with great love… It is not the magnitude of our actions but the amount of love that is put into them that matters.” Doctors Without Borders is a powerful humanitarian organization that was most recently volunteering in Haiti. Part of their mission statement reads, “…We unite direct medical care with a commitment to bearing witness and speaking out against the underlying causes of suffering. Our aid workers and staff protest violations of humanitarian law on behalf of populations who have no voice, and bring the concerns of their patients to public forums…” These are just two mainstream examples of people and organizations that live and work for others, to improve the quality of their lives.
Finally, in 2001, the rules changed under the FAS 141 and 142 to help with the way goodwill will be accounted for. Bussines could now choose to either do an amortization or chose to contribute to impairment testing. Regardless of how companies would choose to do their goodwill, the Irs would still have to take its own precautions on to deal with goodwill. Goodwill can often be tricky in the sense to figure out how much it is really worth. In the case of the AOL Time Warner, it is mostly known as the worst business move in history. This is because these companies started out as being very profitable and were looking to grow in the stock market. Once the market collapse due to the recession the company Time Warner lost lots of money by acquiring AOL. If Time Warner would have known the true value of AOL at the time then this transaction wouldn 't have
Lange, Fornaro, and Buttermilch (2015) focused their research on the FASB Accounting Standards Update (ASU) 2011-08, in regards to Intangibles – Goodwill and Other: Testing Goodwill for Impairment. The authors elaborated on how reporting has been done in the past and how the changes made for private companies has helped ease the financial reporting of goodwill. In addition, the authors discussed the definition of a public business entity. This helps to allow private companies to determine the proper way to report their financial
Recently, inhabitants of many societies and communities are demonstrating a unwillingness to care about their neighbors, and with this comes changes in those societies.
During our lifetime, many relationships are formed with family, friends, and significant others. These relationships are key to forming friends, work bonds and intimate connections with others. Family, friends and intimate relationships are necessary for everyday life, below I am going to discuss interpersonal relationships with each and challenges that may come.