BUS
Class 7.2 Slides_Intangible Assets_Student.pptx

Class 7.2 Slides_Intangible Assets_Student.pptx - BUS-A310...

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BUS-A310 Unit 2: Balance Sheet - Assets
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CLASS 7.2 Intangible Assets
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TYPES OF ASSETS Property, plant, and equipment: Land, Buildings, Equipment, Machinery, Furniture, Autos, and Trucks Natural resources: Oil and Gas Deposits, Timber Tracts, and Mineral Deposits Intangible assets: Patents Copyrights Trademarks Franchises Goodwill Long-lived , revenue-producing assets
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INTANGIBLE ASSETS AND THEIR ACQUISITION COSTS
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INTANGIBLE ASSETS Finite useful lives Companies can either: Purchase intangible assets from other entities Ex: Existing patent, copyright, trademark Develop intangible assets internally Ex: Develop a new product that is then patented Indefinite useful lives Amortized Not Amortize d Cost = Purchase price + all other costs necessary to bring the asset to its desired condition and location for use
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GOODWILL
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GOODWILL Represents the unique value of a company as a whole over and above its identifiable tangible and intangible assets Trained employees and management team Clientele and reputation Favorable business location Goodwill can emerge from a company’s:
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