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identified with reasonably descriptive names.
Goodwill. IAS 38 specifies that internally generated goodwill, brands,
mastheads, publishing titles, customer lists and items
similar in substance should not be recognized as assets. (1) Formation expenses
(2) Intangible fixed assets:
- Costs of research and development
- Concessions, patents, licenses, trademarks and
similar rights and assets
- Goodwill to the extent that it was acquired for
- Payments on account 30 APB Opinion 17 and SEC Regulation S-X, FAS 121, FAS 2, FAS 86, SOP 98-1.
IAS 38 “Intangible Assets”, IAS 36 “Impairment of Assets”.
Fourth (1978) and Seventh (1983) Directives.
31 21 APPENDIX 2: SUMMARY OF RECOGNITION CRITERIA FOR INTANGIBLES
Capitalization of purchased Self generated intangibles may not be capitalized accordingly
required. as fixed assets.
Capitalization of Goodwill is
optional. Basis for the
capitalization of intangibles is
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This note was uploaded on 05/02/2013 for the course ECONOMIC economics taught by Professor Economics during the Fall '13 term at Elmont Memorial High School.
- Fall '13
- The Land