ch12_ins NIU F11 stu - CHAPTER INTANGIBLE 12 12 ASSETS...

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Chapter 12-1 C H A P T E R C H A P T E R 12 12 I N T A N G I B L E A S S E T S I N T A N G I B L E A S S E T S Intermediate Accounting 13th Edition Kieso, Weygandt, and Warfield
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Chapter 12-2 1. 1. Describe the characteristics of intangible assets. Describe the characteristics of intangible assets. 2. 2. Identify the costs to include in the initial valuation of intangible assets. 3. 3. Explain the procedure for amortizing intangible assets. Explain the procedure for amortizing intangible assets. 4. 4. Describe the types of intangible assets. Describe the types of intangible assets. 5. 5. Explain the conceptual issues related to goodwill. Explain the conceptual issues related to goodwill. 6. 6. Describe the accounting procedures for recording goodwill. Describe the accounting procedures for recording goodwill. 7. 7. Explain the accounting issues related to intangible-asset Explain the accounting issues related to intangible-asset impairments. 8. 8. Identify the conceptual issues related to research and development costs. costs. 9. 9. Describe the accounting for research and development and similar Describe the accounting for research and development and similar costs. costs. 10. 10. Indicate the presentation of intangible assets and related items. Indicate the presentation of intangible assets and related items. Learning Objectives Learning Objectives
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Chapter 12-3 Marketing- Marketing- related related Customer- Customer- related related Artistic- Artistic- related related Contract- Contract- related related Technology- Technology- related related Goodwill Goodwill Intangible Asset Intangible Asset Issues Issues Types of Types of Intangibles Intangibles Impairment of Impairment of Intangibles Intangibles Research and Research and Development Development Costs Costs Presentation of Presentation of Intangibles and Intangibles and Related Items Related Items Characteristic Characteristic s Valuation Valuation Amortization Limited-life Limited-life intangibles Indefinite-life Indefinite-life intangibles intangibles other than other than goodwill goodwill Goodwill Summary Summary Identifying Identifying R&D R&D Accounting for R&D R&D Similar costs Similar costs Conceptual Conceptual questions questions Intangible Intangible assets assets R&D costs R&D costs Intangible Assets Intangible Assets
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Chapter 12-4 Intangible Asset I ssues Intangible Asset I ssues LO 1 Describe the characteristics of intangible assets. Two Main Characteristics : Characteristics (1) They lack physical existence. (2) 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
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Chapter 12-5 Intangible Asset I ssues Intangible Asset I ssues LO 2 Identify the costs to include in the initial valuation of intangible assets. LO 2 Identify the costs to include in the initial valuation of intangible assets.
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