GOODWILL

GOODWILL

1. Is the immaterial value derived from factors such as:

   • The customers
   • Efficiency
   • Organization
   • Prestige
   • Good location
   • Experience
   • The position of the enterprise or business before third partie
   • Credits
   • Quality Merchandise or services
   • good relationships with the workers
   • Labor stability
   • the trust achieved in the financial sector because of good management.

2. Guidelines for the valuation of intangible assets IFRS3 and FASB 141

   • Only acquired intangibles are valued: those generated by the organization are not taken into account
   • Intangibles are undervalued: the standards applied stimulate the establishment of low values for the intangible assets.
   • Goodwill is often not identified.

3. When Proctor and Gamble purchased Gillette in 63 billion dollars in 2005

   • The intangible assets, brand and commercial names were valued in only 200 million dollars while the goodwill assets were valued in 5.6 billion dollars.
   • This is another example of overestimation of goodwill assets and underestimation of the identified intangible assets.

4. Google purchased YouTube for 1.2 billion dollars in 2006

   • Which reached the headlines of the brand stock exchange. Out of the entire purchase, only 200 million were attributed to the identified intangible assets and 83.4 % to goodwill
   • It is known that the success of YouTube is due to the expertise of the brand to attract subscribers, and therefore, the valuation made for the brand is extremely low.

5. Walt Disney paid 7.5 billion dollars for the Pixar digital animation studio

   • This is another example of overestimation of goodwill assets and underestimation of the identified intangible assets.
   • The intangible assets, brand and commercial names were valued in only 200 million dollars while the goodwill assets were valued in 5.6 billion dollars.

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