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Click to edit Master subtitle style Recognition of Intangible Assets Accountancy 301 Professor Clifton Brown 23 November 17, 2010
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Intangible assets Knowledg e-related Marketing -related Customer- related Contract- related Non-monetary assets without physical substance
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Acquisition of intangibles Internally developed  by the entity Purchased from  another entity In 1993, Kraft General Foods  acquired  Shredded Wheat  from  RJR Nabisco for $450 million Patented in 1991 and first approved  in 1996 for treatment of psychotic  disorders, Eli Lilly’s Zyprexa  generated $4.92 billion in sales  during 2009
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Externally purchased  GAAP IFRS Generally recognized as an  asset valued at FMV1 Exception is in-process  Generally recognized as an  asset valued at FMV1 Exception is in-process  research 1Which is acquisition cost at date of purchase or allocation
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This note was uploaded on 06/05/2011 for the course ACCT 301 taught by Professor Yueli during the Spring '10 term at University of Illinois, Urbana Champaign.

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23_Recognition_of_Intangibles - 23...

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