文档介绍：Intermediate Accounting 11 Intermediate Accounting 9 Property, Plant, and Equipment:Acquisition and Disposition
Concepts and Reporting Issues of
Intangible Assets
Chapter
11
Intangible Assets
Marketing-related
Customer-related
Artistic-related
Contract-related
Technology-related
Goodwill
Intangible Asset Issues
Types of Intangibles
Impairment of Intangibles
Research and Development Costs
Presentation of Intangibles and Related Items
Characteristics
Valuation
Amortization
Limited-life intangibles
Indefinite-life intangibles other than goodwill
Goodwill
Identifying R&D
Accounting for R&D
Other similar costs
Conceptual questions
Intangible assets
R&D costs
Intangible Asset Issues
LO 1 Describe the characteristics of intangible assets1>.
Two Main Characteristics:
Characteristics
They lack physical existence.
They are not financial instruments.
Normally classified as long-term asset.
Common types of intangibles:
Patents
Copyrights
Franchises or licenses
Trademarks or trade names
Goodwill
Intangible Asset Issues
LO 2 Identify the costs to include in the initial valuation of intangible assets.
Purchased Intangibles:
Recorded at cost.
Includes all costs necessary to make the intangible asset ready for its intended use.
Valuation
Internally Created Intangibles:
Generally expensed.
Only capitalize direct costs incurred in developing the intangible, such as legal costs.
Intangible Asset Issues
LO 3 Explain the procedure for amortizing intangible assets.
Amortization of Intangibles
Limited-Life Intangibles:
Amortize to expense.
Credit asset account or accumulated amortization.
Indefinite-Life Intangibles:
No foreseeable limit on time the asset is expected to provide cash flows.
No amortization.
Intangible Asset Issues
LO 3 Explain the procedure for amortizing intangible assets.
Accounting for Intangibles
Illustration 12-1
Types of Intangibles
LO 4 Describe the types of intangible assets.
Six Major