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★ What Is Goodwill In Accounting . It cannot be measured or estimated unless it is the excess amount that a company pays to purchase another company. “goodwill” is a term used in accounting that represents the excess amount between the purchase price and fair market value of a business. Download ★ What Is Goodwill In Accounting Reporting Intangible Assets Financial Accounting from courses.lumenlearning.com Goodwill is an intangible asset that arises whenever a buyer acquires an existing business entity at a price higher than the fair value. It cannot be measured or estimated unless it is the excess amount that a company pays to purchase another company. Goodwill in accounting is an intangible asset generated when one company purchases another company at a price that is higher than that of the sum of the fair value of net identifiable assets. In accounting, goodwill is the value of the business that exceeds its assets minus the liabilities. Goodwill is the amount someone would pay o...