Agustín Moreno, regular contributor to the Royal European Academy of Doctors-Barcelona 1914 (RAED), participated in a forum that the Catalan Association of Accounting and Management (ACCID) held at the Faculty of Economics and Business of the University of Barcelona with the support of the RAED with a paper entitled “Un desarrollo pendiente de la contabilidad: El fondo de comercio interno, la certeza sobre la empresa” (A pending development of accounting: Internal goodwill, certainty about the company), which addressed the informative importance of so-called “internal goodwill”, an accounting concept that only surfaces legally when circumstantially produces a transaction of companies, and always leaving to the discretion of the parties the responsibility for the quantitative certainty of the business, without auditor control.
“In the 2007 Spanish General Chart of Accounts, the investor’s interest prevails and one of its consequence is that in this case the registration of the intangible value of the company will be of interest in order to complete the knowledge of the value of the company at its maximum possible level, which will lead to the need to account for it and audit it to increase its reliability for the investor, be it the current one or the next, and it may be time in such a case to convert the accounting legislation into a thrust engine and not into a trailer”, considers the expert accountant.
For Moreno, the knowledge of internal goodwill valued would facilitate due diligence, which converts the transfer of information from the selling party to the buying party in a detailed investigation process of a company or activity, object of acquisition, with an in-depth consideration of all aspects of their operations. “The regulation and publication of these data will make clear the quality of the functions performed and their translation to the final product of the company, which in turn will have an impact on the image of the company, either as a brand or prestige, whose maintenance will enable the future of the same and its growth before an economic world whose potential is rewritten daily”, said the academician.
