Cristina Gabriela Leliuc Cosmulese, Veronica Grosu, Elena HLACIUC


The purpose of this paper is to provide an exhaustive perspective on the evolution over time of the definition of the goodwill. The present paper is part of the research done in the doctoral thesis and we consider it very important to have a complete understanding of the concept studied to develop it further. In our demersal we used a chronological analysis and we revised definitions from the late 1800s to today.

At the same time, it is desired to clarify and analyze the concept of goodwill both from the point of view of the accounting literature and the economic practice (regarding the evaluation and exposure of this patrimonial component in the balance sheet) and to a lesser extent in the legal aspect. Definitions are given by prominent researchers of time, published in magazines and books of a high rank or offered by international accounting commissions. In our opinion, this study is beneficial to researchers in the idea that it offers a complete picture of its concept and history, being a study focusing on the international accounting of goodwill in the past, present and future.

In Romania, goodwill is treated as an asset, but does the market perceive goodwill in the same way as it sees other assets? To clarify this question, this paper first looks at the perception of the goodwill market as an asset in determining an entity's valuation.


intangible assets, goodwill, methods of valuing goodwill, international standads


De Muri P. - La valutazione delle aziende, Incontri di formazione 2004/2005, 2005, available at:

Grosu V., Socoliuc M. - Discrimănări contabile privind tratarea fondului comercial, article published in the international conference ”Paradigma contabilităţii şi auditului: realităţi naţionale, tendinţe regionale şi international”, Chișinău, april 2016, pp. 71-72

Tchemeni E. - L'Évaluation des Entreprises, Economica, Paris, 1993, pp. 19-21, available at:, 2007

Bianchi Martini S. - Interpretazione del concetto avviamneto. Analizi dei principali orientamenti della dottrina italiana; Giuffre, Milano, 1996; Boisisio O. - Il valore di avviameneto, Milano, Pirola, 1964.

Zanda G. - La grande impresa. Caratteristiche sttruturali e di compartamneto, Giuffre, Milano, 1974, p. 222.

Fabris G. P. , Minestrone L.f - Vallori della marca, Franco Angeli, Milano, 2004, p.224

Mateş D., David D. et al. - Contabilitate financiară: conformă cu Directiva a IV-a a Comunităţilor Economice Europene, Edition Gutenberg Univers, Arad, 2010, pp.15-17

Pierce, A. and Brennan, N. - Principles and Practice of Group Accounts: a European Perspective, Thomson, London, 2003

Ernest&Young, IFRS 3-IAS 36, Nozioni di base e criticita, Milano, 2005, available a

Itami H. - Mobilizing Invisible Assets, Harvard Press, Massachusetts, 1987.

Baruch Lev. – Intangibles: Management, Mesurement, and Reporting, The Brookomgs Institution, Washington, DC, 2001

Needles B., E., Anderson Ir., Henri R., Caldwell J., C. - Principiile de bază ale contabilităţii, Issue a V-acincea, Edition ARC, 2000, p. 517

Банк В.П., Ковалева О.Н. Оценка и учет деловой репутации организации. - Бухгалтерский учет. (Москва). - 2004. - № 4., p.40

Bucur V. - Unele aspecte ale contabilităţii fondului commercial, Analele Ştiinţifice ale Universităţii Cooperatist-Comerciale din Moldova, Number 10 / 2012 / ISSN 1857-1239 , pp. 203-210

Taliento M. - Measuring Goodwill Rationales for a Possible Convergence betwen the Excess Profits Estimate and the Rsidual Value Approach, Journal of American Academy of Business, Cambridge, n. 10, 2001

De Minco L., Amodeo D. - Saggi di economia aziendali, Giuffre, Milano, 1942, pag. 77-81

Grosu V. - Evaluarea capitalului intelectual, Studii şi cercetări privind impactul cercetării şi inovării asupra progresului economic, volumul 4, Studii Post-Doctorale În Economie- Disertații Post-Doctorale, Edition Academiei Române, ISBN 978-973-27-2290-9 ISBN 978-973-27-2294-7, Bucharest, 2013, p.411

Reilley R.F, Schweihs R.P. - Valuing intangible assets, Mc. Graw Hill, 1998, pp. 363-388, p. 405

Chirichiagno S, Segre V. - Formule specifiche per la determinazione dell’avviamento nei transferimenti d’azienda., available at Rivista delle operazione Staordinari, p. 9-16

Grosu V., Hlaciuc E., Mates D., Socoliuc M. - The impact of the International Accounting Standards/ International Financial Reporting Standards (IAS/IFRS) in determining the goodwill of companies in the European Union (EU), African Journal of Business Management Vol.6 (43), 31 October 2012, pp. 10708-10721

Mateş D., Leliuc Cosmulese C., G., Anisie L. - Abordări și metode de evaluare a activelor intangibile, article published in the international conference Paradigma contabilităţii şi auditului: realităţi naţionale, tendinţe regionale şi internaţionale, 2016, issue 1 april 2016, Rep. Moldova, pag. 59-71, ISBN 978-9975-127-48-6

***Valuation Standards ANEVAR, 2015

*** International Financial Reporting Standards (IFRS) issue in1 january 2013, Part A, Fundaţia IFRS. - Ed. a 6-a, rev.- Bucureşti, Edition CECCAR, 2013;

***FASB, SFAS 142- Fondul comercial și alte active necorporale și SFAS 141- Combinări de întreprinderi,;

Full Text: PDF

Creative Commons License
This work is licensed under a Creative Commons Attribution 3.0 License.