How does an auditor determine the fair value of goodwill if: The reporting entity is the

Question:

How does an auditor determine the fair value of goodwill if:

• The reporting entity is the total company and the company is publicly traded.

• The reporting entity is the total company and the company is not publicly traded.

• The reporting entity is an operating segment.

Goodwill
Goodwill is an important concept and terminology in accounting which means good reputation. The word goodwill is used at various places in accounting but it is recognized only at the time of a business combination. There are generally two types of...