Chevrolet Corvette Stingray C7 Forum - View Single Post - GM's $30B Goodwill Write-up Explained

Georgie · 09-13-2010, 12:49 PM

why would a firm issue an unqualified opinion on those statements if their accounting for Goodwill isn't GAAP (or is it, see below)?

wait... this type of treatment is GAAP? so to plug the gap they capitalize the difference as Goodwill?? shouldn't that be a one time gain or loss on the income statement instead... i don't get this scenario.

OR... is that simply the government's goodwill since isn't the government the reason their equity went positive?

09-13-2010, 12:49 PM	#24
Georgie Drives: Camaro... soon Join Date: Aug 2008 Location: Chicago Posts: 1,217	why would a firm issue an unqualified opinion on those statements if their accounting for Goodwill isn't GAAP (or is it, see below)? wait... this type of treatment is GAAP? so to plug the gap they capitalize the difference as Goodwill?? shouldn't that be a one time gain or loss on the income statement instead... i don't get this scenario. OR... is that simply the government's goodwill since isn't the government the reason their equity went positive? __________________ 2011 IOM or CGM 1SS