Internally-Generated-Intangible-Asset-Handout.pdf - BA...

This preview shows 1 out of 2 pages.

BA 114.1 AY 16-17 Handout on Internally Generated Intangible Asset General Rule: To assess whether an internally generated intangible asset meets the criteria for recognition, an entity classifies the generation of the asset into: a) research phase; and b) a development phase. If an entity cannot distinguish the research phase from the development phase of an internal project to create an intangible asset, it should treat the expenditure on that project as if it were incurred in the research phase only. Research- automatically expensed (a)activities aimed at obtaining new knowledge; (b) the search for, evaluation and final selection of, applications of research findings or other knowledge; (c) the search for alternatives for materials, devices, products, processes, systems or services; and (d) the formulation, design, evaluation and final selection of possible alternatives for new or improved materials, devices, products, processes, systems or services.
Image of page 1

Subscribe to view the full document.

Image of page 2
You've reached the end of this preview.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern