This preview shows page 1. Sign up to view the full content.
Unformatted text preview: ermany, the Netherlands, the UK and the USA)
and five can indeed be considered as having real definitions (the IASC, Ireland, the UK,
Australia and the USA).
If we take a closer look at what we have called “tautological” definitions, we see that the
description is not totally accurate. In fact, each entity concerned begins by stating a tautology
(e.g. an intangible asset is intangible) but then goes on to define such assets either by
opposition, or by a definition which attempts to say what an intangible asset actually is (see
To give an example of what we consider a “real” definition, we may quote the IASC’
definition: an intangible asset is “an identifiable non-monetary asset without physical
substance held for use in the production or supply of goods or services, for rental to others,
or for administrative purposes. An asset is a resource controlled by an enterprise as a result
of past events; and from which future economic benefits are expected to flow to the
In the UK, intangible...
View Full Document
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