320 Lesson 11a

320 Lesson 11a - Week12 IntangiblesandGoodwill 1 2...

Info iconThis preview shows pages 1–6. Sign up to view the full content.

View Full Document Right Arrow Icon
Week12 Intangibles and Goodwill 1
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Characteristics identifiable lacks physical substance non-monetary 2
Background image of page 2
Acquisition of intangible assets Acquired intangible assets Internally generated intangible assets Separately Regular purchase Government grant In a business combination Identifiable intangibles only and other expenditures - capitalize as an   asset? -  expense as   incurred? Goodwill is not an intangible asset if  internally  created IFRS grid IAS 38 3
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
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
Background image of page 4
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
Background image of page 5

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 6
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 03/15/2012 for the course BUS 320 taught by Professor Maureenfizzell during the Spring '12 term at Simon Fraser.

Page1 / 14

320 Lesson 11a - Week12 IntangiblesandGoodwill 1 2...

This preview shows document pages 1 - 6. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online