Assets

What is intangible asset Companies always have different kinds of assets, such as buildings and machines, but they also have some other assets like brand names, research and development, copyrights or patents. These assets contain three essential characteristics: they are assets, they lack physical substance and they are identifiable non-monetary. This kind of asset is called intangible asset. It can be recognized if it can meet these four criteria: it is separately identifiable, controlled by the

Assets 2 (Intangible Assets) Based on Week 4 Due Week 5 (due 25th March) NOTE: Provide references for your answers and quote where you have written something that is word-for-word from a source Textbook Questions (15 marks): Challenging Question 29 (5 marks) Inglis Ltd has a number of taxi licences that are shown in the financial statements at cost. Can these licences be revalued to fair value and, if so, do they also need to be subject to periodic amortisation? Yes, if these taxi licenses

• 9 assets are in eviction. These assets average 409 Days in REO and have an average of 293 days in eviction (the “difference” represents the timeline to obtain the foreclosure deed, ratify or confirm the sale or allow for the redemption period to expire)  2 of 9 are in states with extended timelines to ratify or confirm the sale or record the vesting deed  Of those not in extended timeline states for ratification or recording the vesting deed: o 1 asset in New Jersey has had numerous delays reported

Goodwill is an asset that is an intangible asset. Goodwill represents the future economic benefits that arise from acquiring assets during a business amalgamation. A goodwill reflects the difference between the purchase price and the fair value of acquiring a company’s assets or a business merger. According to the generally accepted Accounting Principle goodwill is not amortized. Therefore, on the balance sheet there would not be an accumulated goodwill amortization. Impairment on a goodwill is tested

This paper attempts to explain aspects about assets and their importance in accounting to report accurate information about the company. Assets give an indication as to the strength of the business, its ability to generate income, the capability to produce a profit and the means it has to pay its debt. Creditors and shareholders have a vested interest in making sure their notes will be paid, or profits will be generated. Assets – Current and Non-Current Introduction Throughout all business, there

Assets: Gross plant and equipment ($5,000,000), inventories ($200,000), net accounts receivable ($550,000), and cash ($310,000) = $6,060,000 Liabilities: Accounts payable ($230,000), other current liabilities ($80,000), accrued expenses ($90,000), accumulated depreciation ($110,000), and long-term debt ($4,000,000) = $4,510,000 Equity: is the difference between assets and liabilities (Lumen, n.d.). It is the capital/net worth of the company, the monies left over after the assets are sold and the

Goodwill is an intangible asset recorded on the balance sheet when one business acquires another business and when the purchase price, or carrying value, is greater than the fair market value. It includes the reputation, brand, geographic location, patents, employee commitments, and etc of the acquired company. Goodwill is calculated by deducting the carrying value from the fair market value of identifiable assets and liabilities. According to the FASB Accounting Standards Codification (ASB), which

NON PERFORMING ASSETS(NPA) WHAT IS A NPA (NON PERFORMING ASSET) Non Performing Asset means an asset or account of borrower, which has been classified by a bank or financial institution as sub-standard, doubtful or loss asset, in accordance with the directions or guidelines relating to asset classification issued by RBI. Non-performing asset (NPA) shell be a loan or an advance where; i. interest and /or installment of principal remain overdue for a period of more than 90 days in respect of a

Question A – Measuring Identifiable Assets There are two topics that relate to the measurement of identifiable assets. The first is the “day one” measurement. In regard to initial measurement, as per FASB Accounting Standards Codification (ASC) topic 805-20-30-1, “The acquirer shall measure the identifiable assets acquired, the liabilities assumed, and any noncontrolling interest in the acquire at their acquisition-date fair values.” The two important concepts in this guidance are that first the

Asset Management includes the relating of expenses, opportunities and dangers against the coveted execution of advantages, to accomplish the authoritative goals. This fitting force should be considered over diverse time spans. Asset likewise empowers an association to inspect the requirement for, and execution of, advantages and Asset frameworks at different levels. Also, it empower the use of logical methodologies towards dealing with a benefit over the diverse phases of its life cycle. Asset