Intangible asset

Goodwill is an intangible asset, probably the most intangible of all intangible assets, hard to measure and even more difficult to account for. Goodwill today constitutes a much larger part of acquisition prices than it did previously, resulting in a much greater impact on financial statements. During the twentieth century the concept of goodwill has changed significantly. In the earlier days goodwill was thought of as the good and valuable relationships of a proprietor of a business with his customers

test is to make sure all assets that may be impaired are included in the test. IAS 36 has a list of external and internal indicators of impairment. If there is an indication that an asset should be impaired, the calculation of the asset's recoverable amount should be done. [IAS 36.9] The recoverable amounts of the following types of intangible assets should be measured annually whether or not there is any indication that it may be impaired, which means all intangible assets in Foster have to be included

term once and for all and in all situations. (Valuing Intangible Assets, 1999, pg.7) Below are some of the definitions and descriptions of goodwill. 1. In earlier common practice in the United Kingdom, the British defined goodwill as the probability that an enterprise’s customers or patrons would continue to do business with it, and value its products and services above those available from other companies or purveyors. (Valuing Intangible Assets, 1999, pg. 7) 2. The American Heritage Dictionary defined

in player contracts provides a natural experiment to evaluate the mandated accounting requirement that purchased intangible assets must be capitalised (ASB, FRS 10, 1997b). The study is well grounded for three reasons. First, the availability of industry level transaction price data for transfer fees, second, a choice between capitalisation and amortisation of purchased intangible assets and immediate expensing was exercised in the UK prior to FRS 10, and third, in the period 1991–1998 only five out

SEC requires the six basic principles of Plain English that include; short sentences, definite, concrete, everyday language, active voice, tabular presentation or bullet lists for complex material, whenever possible, no legal jargon or highly technical business terms, no multiple negatives - See more at: http://corporate.findlaw.com/corporate-governance/frequently-asked-questions-concerning-the-plain-english-rule-of.html#sthash.P7WSAJKj.dpuf The memorandum provides right information, about authoritative

“in-exchange” premise? Management should record the land and buildings in the in-exchange premise. The land, movable equipment and manufacturing facility can be a stand-alone asset and it also provides the maximum value to market participants. Movable equipment can be sold. ASC 820-10-35-10 3. Valuation of Intangible Assets The in-process research and development (IPR&D),which is proprietary food freezing technology submitted for Food and Drug Administration (FDA) approval, has a fair value

2009 Executive Summary The purpose of this document is to record the analysis of AGL Energy Limited’s the external environment, internal business activities, financial situation and some parts of the annual report such as PPE, intangible asset and Leased assets & liabilities. There are two main parts of this document. The first part is the industry analysis, which is through Porters 5 Forces to

covered by accounting standards. Furthermore, the report identifies what items can be recorded in accounts as assets in terms with the relevant accounting standards. 2 CAPITAL VS REVENUE EXPENDITURE The distinction between capital expenditure and revenue expenditure is vital for preparers of financial statements as only capital expenditure is included in the cost of non-current assets in the Statement of financial position. On the other hand, revenue expenditure is deducted from an entity 's '

WHAT IS GOODWILL? The main method used by businesses to classify assets is to split them into tangible assets, which have a separate existence from the business (examples of which would include buildings, land and machinery), and intangibles which do not. Some clear examples of intangibles include goodwill, patents, research and development expenditure and trademarks. Intangible assets are usually created within the organisation over a period of time, by the company itself, rather than acquired

under the circumstances, the results of which form the basis of making judgments. WORLEYPARSONS WorleyParsons uses several estimates and underlying assumptions. One of these is with regards to goodwill and intangible assets with identifiable useful lives. Identifiable intangible assets with finite lives are carried at cost less accumulated amortization and adjusted for