What a great Tute we had today, thanks Maria.
When I think of Goodwill I automatically think of attributes such as honesty, integrity and loyalty.
Goodwill in accounting terms represents what you paid as an investor towards shares within a company to what profit you receive.
As outlined in the documentary about the collapse of ABC learning centres, their Goodwill figures were beyond correction which contributed to the company going into receivership.
For a brief overview of the ABC Learning Centre's collapse and access to order your own copy of the DVD we watched in class, click on the link below:
http://www.cpaaustralia.com.au/cpa-program/information-for-academics/abc-learning-collapse-case-study
