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A Baudrillarian View of Accounting Goodwill

This paper emanates from the understanding of hyperreality reality, and on the other hand based on the Baudrillarian postmodernist perspective. Thus, we aim to understand hyperreality and reality in accounting from the perspective of Baudrillarian pospodernism. A thesis by Macintosh indicated that todayâ€™s financial markets operate detached from reality in hyperreality, and there does not exist anything stable to support the financial economy in the order of simulacrum. Consequently, vital accounting information no longer refers to real references, which mean that we live in a world of free-floating signs. In the simulation era of todayâ€™s world, accounting, just like all other areas of knowledge, faces a crisis of representation. Goodwill is a hidden value that accounting standards define as the value of future economic benefit (internal goodwill) and the difference between fair value and book value of the firm (business combination). This paper concludes that accounting goodwill represents the order of simulacrum (era of simulacra). These orders of accounting for goodwill are as follows: first, era of proprietary; second, era of political economy; third, era of globalization; and finally, the virtual era. It is also suggested that understanding goodwill is important to determine whether information of goodwill has value relevance for decision-making.