ACCURATE VALUATION OF GOODWILL
In recent years, the treatment of the intangible asset of goodwill has undergone significant change as a result of the implementation of Financial Accounting Standards Board (FASB) Statement 142, "Goodwill and Other Intangible Assets." Goodwill is the value of a going concern. You cannot touch it. You cannot bank it. You cannot sell it separately. By itself, it is valueless.
In your post, address the following questions:
Assuming that all unrelated acquisitions are at arm's length, why is the accurate valuation of goodwill so important?
Why should you be concerned about it?
Do you think that FAS 142 helped provide accuracy to the valuation of goodwill?