Wartość firmy w świetle nadrzędnych zasad rachunkowości
Goodwill in the light of fundamental accounting principles

Summary/Abstract: The main purpose of this article is to analyze accounting procedures of goodwill valuation with reference to the requirements of the fundamental principles of accounting and currently used methods of company value determination. The analysis shows that present accounting regulations have largely taken into account many of the achievements of contemporary theory of business finance. The accounting standards of goodwill valuation at the time of initial recognition and in the following years are clear but require many estimates and simultaneous usage of several valuation methods (market value, fair value of net assets, going concern value). Practical application of the valuation models can face barriers such as experience of the accounting staff and auditors and access to the necessary information, or can provide an area for creating the image of an enterprise in financial statements. The author of this article tries to show how such circumstances can affect the quality of information presented in financial statements and make it difficult to verify the reliability of the presented value of goodwill in the light of the fundamental principles of accounting.

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