Goodwill;

              NEW YORK
CHICAGO
PHILADELPHIA
DETROIT
ST. LOUIS
BOSTON
CLEVELAND
BALTIMORE
PITTSBURGH
HASKINS & S E L LS
C E R T I F I E D P U B L I C A C C O U N T A N T S
BULLETIN SAN FRANCISCO
LOS ANGELES
NEW ORLEANS
SEATTLE
DENVER
ATLANTA
WATERTOWN
LONDON
V O L . II NEW YORK, JULY 15, 1919 No. 7
Goodwill
THE goodwill of a professional organiza-tion
is like a tender plant. It must be
watched and nurtured. It must be culti­vated
and protected.
The courts have, in many cases, recog­nized
that there is such a thing as goodwill.
Authors have tried to define and describe
it. Formulae have been devised for finding
its value. It still remains, however, some­what
nebulous.
When an accountant carries out an en­gagement
in a manner acceptable to a
client, he gives satisfaction. The presump­tion
is that a satisfied client will not only
seek the services of the same accountant
again when subsequent occasions arise, but
that, like most other human beings, he
will tell his friends.
An accountant, like other professional
men, is prevented by ethics from advertis­ing
his services. He must depend for his
practice upon his reputation. Goodwill is
one of his most valuable assets.
There are many things which promote
good will. There are many things which
hinder its development. Now and then
there are professional catastrophes which
annihilate it.
The Shakespearian quotation, to wit:
"The evil which men do lives after them;
the good is oft interred with their bones,"
scarcely applies to professional practice.
A person for whom the accountant did
work twenty years ago is as likely to recall
the service with satisfaction, if he was well
served, as the person who may have been
the victim of some unfortunate mistake.
The accountant strives to be perfect.
Being human, he sometimes fails. His
failures, while deplorable, need not as a
rule prove disastrous if his attitude under
the circumstances is correct. If he ac­knowledges
frankly his mistakes, is truly
sorry, and makes such reparation as is
possible, he proves his right to the con­fidence
of his client, and confidence is one
of the fundamentals on which goodwill
rests.
A desire to serve faithfully and well is
not sufficient. The desire must take form
and show evidence. To do this requires
constant and thoughtful attention. Every
word and act must be studied in its rela­tion
to the client and his interests, if his
goodwill is to be obtained and continued.
A friendly, courteous, and dignified atti­tude
towards the client and his employes,
silence as to his affairs, prompt and thor­ough
service which gives him satisfaction,
alacrity in attending to his requests, are all
things which make for goodwill.
Every one in our organization, at some
time or another, has the opportunity to
promote its goodwill in some of these re­spects.
The more attention we give to the
development of our goodwill, the more
fully we may expect the organization to
fulfill its mission in the professional field.
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