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320 Lesson 11a - Week12 1 2 Characteristics identifiable...

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Week12 Intangibles and Goodwill 1
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Characteristics identifiable lacks physical substance non-monetary 2
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Acquisition of intangible assets Acquired intangible assets Internally generated intangible assets Separately Regular purchase Government grant In a business combination Identifiable intangibles only Issues for R&D and other expenditures - capitalize as an   asset? -  expense as   incurred? Goodwill is not an intangible asset if  internally  created IFRS grid IAS 38 3
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Acquired intangible assets Purchase to acquire control of future benefits the asset is expected to provide Recognized initially at COST Cost similar to that for tangible assets purchase price, plus taxes, less discounts, plus any additional costs necessary to bring it to the appropriate condition so that it is ready to use Not advertising, promotion, and training associated with new products, locations, or customers Acquired through a government grant treatment similar to capital assets 4
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Acquired through an asset exchange if some portion of consideration given is non-monetary, cost is measure at the fair value of what is given up unless the transaction does not have commercial substance unless neither asset acquired or asset given up can be reliably measured then, asset acquired measured at cost or book value of asset given up Acquired in a business combination
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