{UAH} WHAT IS GOODWILL?
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4:44 PM |
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WHAT IS GOODWILL?
Maama Segirinya has been selling tomatoes and matooke all foodstuffs you can buy and cook for 10 years at Kavule. In fact, everyone knows that at her stall you will always get big tomatoes and mature matooke and the sweetest sweet bananas. Some other sellers even say she must have bewitched that village so that they only buy from her.
Did you know that what Maama Segirinya has actually has a name? And, It is Not "Witchcraft"!
In law, this is called Goodwill.
This can be many things, like her reputation for good matooke, her many suppliers who bring her what she sells as well as her roadside location. Under the business law, this must be calculated. This is why you hear some sellers say 'i make 1,000,000 from this business every month" when other similar sellers only make 200,000UGX.
HOW IS IT CALCULATED?
Now we know that Good will cannot be touched, but Suppose Maama Segirinya decided to sell her business.
Let's say all businesses selling food stuffs are valued at UGX. 300,000, but a person is willing to buy Maama Segirinya's business at UGX1,000,000 then the goodwill will be UGX 700,000. This means Goodwill is that extra price that a buyer is willing to pay Maama Segirinya after her shop has been valued at a certain price (300,000).
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-- Maama Segirinya has been selling tomatoes and matooke all foodstuffs you can buy and cook for 10 years at Kavule. In fact, everyone knows that at her stall you will always get big tomatoes and mature matooke and the sweetest sweet bananas. Some other sellers even say she must have bewitched that village so that they only buy from her.
Did you know that what Maama Segirinya has actually has a name? And, It is Not "Witchcraft"!
In law, this is called Goodwill.
This can be many things, like her reputation for good matooke, her many suppliers who bring her what she sells as well as her roadside location. Under the business law, this must be calculated. This is why you hear some sellers say 'i make 1,000,000 from this business every month" when other similar sellers only make 200,000UGX.
HOW IS IT CALCULATED?
Now we know that Good will cannot be touched, but Suppose Maama Segirinya decided to sell her business.
Let's say all businesses selling food stuffs are valued at UGX. 300,000, but a person is willing to buy Maama Segirinya's business at UGX1,000,000 then the goodwill will be UGX 700,000. This means Goodwill is that extra price that a buyer is willing to pay Maama Segirinya after her shop has been valued at a certain price (300,000).
Allaah gives the best to those who leave the choice to Him."And if Allah touches you with harm, none can remove it but He, and if He touches you with good, then He is Able to do all things." (6:17)
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