god?When god isspelt with a lower-case ‘g’ it refers to the figure or figures worshipped byreligions other than the monotheistic religions, whose god is an identifiableentity and is therefore a proper noun, starting with a capital ‘G’.going concern?A goingconcern is a healthy businesswhich does not have a foreseeable threat of liquidation, or a company’s abilityto carry on trading indefinitely. Whether a company is a going concern or notwill be determinable by many internal and external factors that influence itsmarket, its personnel, its geography and the overall economic position of thejurisdiction in which it operates and with which it does business. Currentsuccess does not necessarily denote going concern status.going public? Synonymouswith an initial public offering(IPO), a company is said to go public when it starts to sell shares to newinvestors that were previously privately owned. goodwill? Goodwill isan uncountable and immeasurable positive asset a going concern possesses.
In short, it isits reputation, its branding, and to some extent the expertise of its staff andthe quality of its infrastructure. A company’s goodwill can be ascertainedroughly by means of surveys and so on, and people will have a ‘sense’ of themeasure 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 itstangible assets and its goodwill will be taken into account to arrive at aprice based on projected profits. The phrase ‘as a gesture of goodwill’ isoften used by companies who decide not to impose a penalty or charge a finewhen they are contractually entitled to.goods?Goods arethings which can be traded and consumed but are to all intents and purposestangible. Commoditiesare goods, but goods are not necessarily commodities, as commodities are simplematerials that are irreducible (such as metals) and therefore do not havequalities that differentiate one manufacturer’s output from another’s (comparedwith, say, cars, which vary widely in quality and price).
Goods and services are the twotradable things, services being intangible and goods tangible.