Kismet
Ideal_Rock
- Joined
- May 6, 2005
- Messages
- 2,991
This was an IM conversation I had with my husband (who knows nothing about accounting) earlier today. Names have been changed to protect the innocent. His first line is actually a quote from another IM conversation he was having.
Mr. Kismet: "Mr. Kismet can you pretend to be Kismet so I can complain about how my company overly allocated acquisitions to goodwill instead of fixed assets?" -- thats from Mr. X in Ohio
Kismet: hahah. what did you say?
Mr. Kismet: nothing. i didnt know what he was talking about
Kismet: Well it sounds like purchase accounting stuff which I don't do much of. Their company bought another company and the purchase price gets allocated to all the assets and the remainder goes to goodwill.
Mr. Kismet: like the clothing place?
Kismet: sorry, laughing
Mr. Kismet: heh
Kismet: no, goodwill is the difference between what you pay and what it's worth
Mr. Kismet: i see
Mr. Kismet: "Mr. Kismet can you pretend to be Kismet so I can complain about how my company overly allocated acquisitions to goodwill instead of fixed assets?" -- thats from Mr. X in Ohio
Kismet: hahah. what did you say?
Mr. Kismet: nothing. i didnt know what he was talking about
Kismet: Well it sounds like purchase accounting stuff which I don't do much of. Their company bought another company and the purchase price gets allocated to all the assets and the remainder goes to goodwill.
Mr. Kismet: like the clothing place?
Kismet: sorry, laughing
Mr. Kismet: heh
Kismet: no, goodwill is the difference between what you pay and what it's worth
Mr. Kismet: i see