how is goodwill different from other assets 
goodwill is an intangible asset that is created when one company acquires another company for a price greater than its net asset value like other assets it is shown on the company s balance sheet unlike other assets that have a discernible useful life goodwill is not amortized or depreciated but is instead periodically tested for goodwill impairment if the goodwill is thought to be impaired the value of goodwill must be written off reducing the company s earnings 