CHECK THESE SAMPLES OF Accounting intangible asset
hellip; In subsequent recognition of tangible assets, IAS 16 has provided the option of fair value as on the date of such recognitions with riders that such option once adopted would continue till derecognition of the asset, in any way; and further that the option of revaluation, if adopted shall be applicable to the entire band of the asset.... Besides the cost of asset IAS 16 has concentrated on the issue of cost of bringing the asset to location and the asset made available under present conditions of its operations as per management intentions....
6 Pages
(1500 words)
Essay
IAS requires a business to recognize intangibles only when the asset satisfies certain criteria.... The standard has also derived procedures to treat the carrying amount of intangibles which requires certain disclosures about the asset.... According to IAS 38, and intangible assets is a recognizable non-monetary asset that has no physical form and it is under the control of a company and the asset has been maintained as an outcome of past performances(self-creation or buying) and when future economic advantages (cash inflows) are anticipated....
9 Pages
(2250 words)
Assignment
hellip; Goodwill does not meet the definition of intangible asset according to AASB 138, since it is not identifiable as it could not be sold or transferred.... To fulfill the property of identifiable, an asset must be separable or it should arise from any contractual obligation or other legal right.... It is recognized by the acquirer as an asset at the date of acquisition.... d) Prior to adoption of the International accounting Standards, the accounting treatment was to amortize goodwill....
4 Pages
(1000 words)
Essay
hellip; AASB 138 prescribes that an intangible asset item meets the strict definition and recognition criteria.... This results in subsequent expenditures which maintain the expected future economic benefits from an existing intangible asset.... n intangible asset is an identifiable non-monetary asset without physical substance.... n business and accounting terms, an asset is a resource controlled by an entity and from which future economic benefits are expected to be derived....
9 Pages
(2250 words)
Essay
This work "Intangibles Seek Due Recognition" discusses intangible assets that are represented by patents, goodwill, copyrights, human capital, intellectual property.... The author outlines a required radical change in rules, regulations, and standards for the recognition, measurement, and valuation of intangible assets.... This remaining value is the value of non-physical assets called by accountants as intangible assets.... It is time that due recognition is given to intangible assets that contribute effectively to the value of the companies....
7 Pages
(1750 words)
Coursework
The author identifies the intangible elements or assets that help in the generation of corporate value over and above their book value.... It is difficult to assign historical costs to intangible like brand value and at the same time, it is difficult to ascertain its fair value in absence of a scientific method to ascertain the value of its future economic gains to the entity.... nbsp; As per John Barry (page 17)1 intangible assets are defined as “assets that cannot be touched, have no independent market value (as opposed to physical hard assets, like a building or a tractor, which do have value), and are not treated as assets at all in financial statements (except for IT)....
7 Pages
(1750 words)
Term Paper
If an intangible asset such as goodwill is expected to yield future benefits, it is amortised, on a straight-line basis, for the number of years such benefits are expected to continue producing revenue.... The paper "intangible Assets" focuses on main kinds and characteristics of intangible assets which have no physical reality but are an important consideration in the preparation of financial statements.... intangible assets is a term used to describe the assets that are used in the operation of the business but have no physical substance and are non-current (Meigs et al....
11 Pages
(2750 words)
Term Paper
In light of the IAS 38, the intangible asset should be amortized over the period through which the benefits will be accrued.... The intangible asset shall also be tested for any impairment due to which the cost of the asset will be reduced.... Some companies have also used different methods such as the benefit that will be derived from the use of it during the life or the tenure of use of the asset.... For many industries, it is very difficult to distinguish between the phase when the asset has entered its development phase and it shall capitalize on it....
8 Pages
(2000 words)
Term Paper