This book investigates the conceptual and practical inconsistencies surrounding the accounting treatment of goodwill, specifically questioning whether current standards accurately reflect economic reality. Martin Bloom, an expert in accounting history, critiques the evolution of goodwill reporting from historical cost models to contemporary impairment testing. He argues that existing frameworks often fail to capture the true value of intangible assets, proposing the Market Capitalization Statement (MCS) as a more transparent alternative for financial reporting.

Experts recognize this work as a specialized contribution to accounting history and theory, particularly for those interested in the evolution of intangible asset valuation. Readers frequently note the technical density of the prose, which is best suited for accounting professionals and academic researchers in the field of financial reporting.