god?When god is
spelt with a lower-case ‘g’ it refers to the figure or figures worshipped by
religions other than the monotheistic religions, whose god is an identifiable
entity and is therefore a proper noun, starting with a capital ‘G’.
going concern?A going
concern is a healthy business
which does not have a foreseeable threat of liquidation, or a company’s ability
to carry on trading indefinitely. Whether a company is a going concern or not
will be determinable by many internal and external factors that influence its
market, its personnel, its geography and the overall economic position of the
jurisdiction in which it operates and with which it does business. Current
success does not necessarily denote going concern status.
going public? Synonymous
with an initial public offering
(IPO), a company is said to go public when it starts to sell shares to new
investors that were previously privately owned.
goodwill? Goodwill is
an uncountable and immeasurable positive asset a going concern possesses. In short, it is
its reputation, its branding, and to some extent the expertise of its staff and
the quality of its infrastructure. A company’s goodwill can be ascertained
roughly by means of surveys and so on, and people will have a ‘sense’ of the
measure of a going concern’s goodwill, but it still remains incalculable and,
indeed, open to challenge. Should a company go up for sale, the value of its
tangible assets and its goodwill will be taken into account to arrive at a
price based on projected profits. The phrase ‘as a gesture of goodwill’ is
often used by companies who decide not to impose a penalty or charge a fine
when they are contractually entitled to.
things which can be traded and consumed but are to all intents and purposes
are goods, but goods are not necessarily commodities, as commodities are simple
materials that are irreducible (such as metals) and therefore do not have
qualities that differentiate one manufacturer’s output from another’s (compared
with, say, cars, which vary widely in quality and price). Goods and services are the two
tradable things, services being intangible and goods tangible.