Consolidated (CONSOLIDATION) Goodwill
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Consolidated Companies, Inc.
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2450 Severn Ave., Ste. 301 Metairie, LA 70001 LA Tel. 504-832-0136 Fax 504-837-1609 |
Type: Private
On the web:
http://www.concofoods.com
You might say this company's concentration is on food. Consolidated Companies is a leading foodservice and retail food supplier in the southern US with distribution centers in Louisiana. Its CONCO Food Service subsidiary supplies caterers, institutional foodservice operators, restaurants, and retail bakeries and delis with a variety of food and non-food products. Through CONCO Food Distributors, the company distributes packaged goods and other grocery items primarily to convenience stores. The family-owned business was founded in the early 1900s by V.J. Kurzweg.
Officers:
Chairman and CEO: Victor Jerry (Jerry) Kurzweg III
President: Winslow J. Chadwick Jr.
Director Information Systems: Emile Noustens
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Consolidated (CONSOLIDATION) Goodwill
Barron's Accounting Dictionary:
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Consolidated (CONSOLIDATION) Goodwill
Excess of cost over book value of the investment in a subsidiary.With consolidation, even when the assets and liabilities of the subsidiary are properly stated, and the net assets equal the values placed on them by the parent, an investor may still expect that the advantages of the combination will enable it to earn more than the two companies could earn separately. Therefore, the investor may be willing to pay an additional amount, which is, in effect, a bonus for control of the subsidiary. This bonus is an intangible asset, goodwill created as a result of consolidation.
Consolidation has a special meaning in mergers because a new company is formed to own the stock of the companies being combined.
In that type of reorganization, there is no goodwill. Goodwill arises from a purchase method merger and represents the difference between purchase price and book value of the acquired company. The meaning of the difference is theoretically the increased earning power of the companies as a result of their combination, but that value is not something superimposed on a balance sheet. It is what is actually paid less what is actually on the books.
Consolidation has a special meaning in mergers because a new company is formed to own the stock of the companies being combined.
In that type of reorganization, there is no goodwill. Goodwill arises from a purchase method merger and represents the difference between purchase price and book value of the acquired company. The meaning of the difference is theoretically the increased earning power of the companies as a result of their combination, but that value is not something superimposed on a balance sheet. It is what is actually paid less what is actually on the books.
| Consistency, Consignment, Conservatism | |
| Consolidated Balance Sheet, Consolidated Financial Statement, Consolidation |
