Supra national accounting organizations iasc31 an

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Unformatted text preview: t, chapter 11; NRSF, Recommendation on Accounting for Research and development and Recommendation on Accounting for Goodwill. 29 Code of Obligations, article 664. ARR 9. 20 USA30 Intangible assets are noncurrent assets that lack physical substance. This category may include assets that can be specifically identified with reasonably descriptive names. Other types of intangible assets lack specific identification, the most common being goodwill. Intangible assets may be purchased or developed internally and may be acquired singly, in groups, or in business combinations. Supra-National Accounting Organizations IASC31 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: (a) Controlled by an enterprise as a result of past events; and (b) From which future economic benefits are expected to flow to the enterprise. European Union 32 Assets such as patents, copyrights, franchises, trademarks, and other similar intangible assets that can be specif...
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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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