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Goodwill is classed as an intangible asset and can reflect the value of the firms reputation.  Goodwill differs from fixed assets as it is something that cannot be touched and it is difficult to value.

Goodwill can be created when a business is sold or bought with a client base or reputation.

Similar to fixed assets, goodwill can be depreciated, known as amortisation, over it's useful economic life.

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