ACCT 305 Live Lecture Week 2

ACCT 305 Live Lecture Week 2 - ACCT 305 Live Lecture Week 2...

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ACCT 305 Live Lecture Week 2 Monique Smalling, CPA
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Agenda Week 2 TCOs Overview of Chapter 10: Operational Assets: Acquisition and Disposition Chapter 10 homework examples Revisit TCOs
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Week 2 TCO TCO 2: Given data related to intangible assets such as legal rights and legal life, compare and contrast the accounting for intangible assets and the accounting for plant assets. Explain the difference in the accounting treatment of costs incurred to purchase intangible assets versus the costs incurred to internally develop intangible assets. Identify and account for the different kinds of intangible assets, such as patents, copyrights, trademarks, franchises, goodwill, and the like. Understand the accounting treatment for Research and Development (R&D) costs.
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Intangible Assets Lack physical substance Generally represent exclusive rights that provide benefits to the owner *** See Graphic 10-3 on page 503 ***
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Types of Intangible Assets Patents Copyrights Trademarks Franchises Goodwill
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This note was uploaded on 02/05/2012 for the course ACCT 305 taught by Professor Charlie during the Spring '11 term at University of Phoenix.

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ACCT 305 Live Lecture Week 2 - ACCT 305 Live Lecture Week 2...

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