Intangible assets are recorded intangible assets are

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Unformatted text preview: thereto can be identified; interest in the identifiable net assets. Only purchased (2) The technical feasibility of the product or process has been established; goodwill should be recorded (3) The management of the enterprise has indicated its in the balance sheet. intention to produce and market or use the product or process, (4) The future market for the product or process is clearly defined, or, if it is to be used internally rather than sold, its usefulness to the enterprise has been established; and (5) Adequate resources exist, or are expected to be available, to complete the project. Intangible assets are recorded Intangible assets are recorded at cost, but internally at cost. Purchased goodwill is developed goodwill is not recognized as an asset. recorded in the accounts as an R&D costs for new products or new techniques may be intangible asset. capitalized as deferred assets in the balance sheet. Recurring R&D costs for improvement of present techniques cannot be capitalized. Intangible expenditures may be recognized as intangible assets, provided that the expenditures will benefit the entity during future years. 24 Switzerland Intangible assets may not be carried on a Swiss balance sheet at values exceeding their realizable values to the company. Thus, they are carried at the lower cost or market...
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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.

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