Intangible assets (IA)


Intangible asset overview
meyer cohn
Mind Map by meyer cohn, updated more than 1 year ago
meyer cohn
Created by meyer cohn almost 8 years ago

Resource summary

Intangible assets (IA)
  1. DEF: without physical substance; is identifiable; non-monetary; & meet asset DEF.
    1. Identifiable criterion
      1. separable from entity & sold; OR arises from contractual/legal rights are transferable.
      2. Recognition
        1. Probable future economic benefits flow to entity; & costs measured reliably.
        2. Measurement (Initial)
          1. Separate acquisition
            1. Acquisition part of Bus. Combo
              1. Exchange transactions
                1. Acquisition by government grant
                  1. Internally generated IA
                    1. Research phase: Recognise expenditure in P/L when incurred
                      1. Development phase
                        1. IA recogn. only IF: 1. IA will be available for use/sale; 2. Intention to complete to use/sell; 3. Ability to use/sell; 4. How IA will generate economic benefits; 5. Availability of resources to complete IA; 6. Reliably measure direct expenditure.
                        2. Brands, mastheads, publishing titles, customer lists not recogn. as IA (IAS38.63)
                          1. Website costs
                            1. Planning stage = Research stage
                              1. Graphical & content development: Capitalised only if development cost directly linked to prepare website for intended use, IF not expense to P/L
                                1. Operating stage: Expense to P/L
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