136b_ias

136b_ias - CHAPTER 12- INTANGIBLES END OF QUARTER IAS...

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09:17 12-1 Bob Anderson, UCSB 2004 END OF QUARTER IAS IAS 12-2 Bob Anderson, 2004 CHAPTER 12- INTANGIBLES Contrary to my prior assertions, IAS has many differences with respect to intangibles. Consequently MUCH convergence (and probably controversy) will be required. 12-3 Bob Anderson, 2004 Chapter 12 SIMILARITIES: Expense Research In process R&D acquired may be capitalized under both (not emphasized in initial Chapter 12 discussion) DIFFERENCES: Capitalize Development costs once the technoligy’s feasibility is established. Capitalize some internally generated intangibles (like branding), when (1) measurable and (2) future benefit reasonably assured. Impairment testing required each period. Measured as Book value compared to the higher of (a) fair value less cost to sell and (b) present value of future cash flows. Impairment reversal for held for use assets permitted.
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This note was uploaded on 12/25/2011 for the course ECON 136B taught by Professor Anderson during the Fall '08 term at UCSB.

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136b_ias - CHAPTER 12- INTANGIBLES END OF QUARTER IAS...

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