Intangible assets (IA)

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Mind Map by , created over 4 years ago

Intangible asset overview

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meyer cohn
Created by meyer cohn over 4 years ago
Employee Benefits
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Financial instruments
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PPE summary
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From Tsardom to communism- Russia
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Biology B1
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Share-based payments
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Leases
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Revenue from contracts with customers
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Foreign exchange rates
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Impairment of assets
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Intangible assets (IA)
1 DEF: without physical substance; is identifiable; non-monetary; & meet asset DEF.
2 Identifiable criterion
2.1 separable from entity & sold; OR arises from contractual/legal rights are transferable.
3 Recognition
3.1 Probable future economic benefits flow to entity; & costs measured reliably.
4 Measurement (Initial)
4.1 Separate acquisition
4.2 Acquisition part of Bus. Combo
4.3 Exchange transactions
4.4 Acquisition by government grant
4.5 Internally generated IA
4.5.1 Research phase: Recognise expenditure in P/L when incurred
4.5.2 Development phase
4.5.2.1 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.
4.5.3 Brands, mastheads, publishing titles, customer lists not recogn. as IA (IAS38.63)
4.5.4 Website costs
4.5.4.1 Planning stage = Research stage
4.5.4.2 Graphical & content development: Capitalised only if development cost directly linked to prepare website for intended use, IF not expense to P/L
4.5.4.3 Operating stage: Expense to P/L

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