Intangible assets

Start with a map

The Intangible Assets mind map covering applicable standards and scope offers a broad starting point. Its branches include definition, recognition, measurement, useful life, impairment loss and disclosure. Begin with the definition and recognition branches, then follow the map into measurement and the later stages it covers.

For another view of the definition, Philippine Accounting Standards 38: Intangible Assets covers identifiability, control and future economic benefits. It also has a branch on initial measurement and cost. Compare those branches with the first map as you study.

Practice the criteria

The Intangible Non-Current Assets flashcards ask about the characteristics of an intangible asset and the criteria for recognition on the Statement of Financial Position. After studying a map, use the cards to recall the criteria without looking at the branches. Return to the map when you need to check an idea.

The financial accounting comprehension quiz includes a question on the key characteristics of an intangible asset. Try it after the definition and recognition material, then use the maps and flashcards to go over any points you want to study again.

Follow related branches

The map labeled S3U3 covers recognition, measurement and amortization, as well as goodwill, auditing intangible assets and impairment testing. Use its branches to connect the introductory material with these related areas. The broader Intangible Assets map also includes internally generated assets and retirement and disposal.

Place the topic in the unit

Intangible assets is a section of the Non-current and Intangible Assets unit in Accounting and auditing. The resources on this page let you move between an overview, specific criteria and practice questions within that section. Choose a map to begin, then follow it with a flashcard deck or quiz.