The national accounting council cnc considers

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Unformatted text preview: e they form part of the production and, if the order is unbilled at the balance sheet date, are an element of the inventory valuation; or (2) They represent applied R&D, in which case they may be capitalized as intangible assets, on the triple condition that : - the projects concerned are clearly identifiable; - their respective costs are distinctly evaluated in order to be allocated over time; and - each project has a serious chance of commercial success at the date of closing of financial statements (the technical or commercial feasibility of the product or process has been established). The National Accounting Council ( CNC) considers purchased or developed software as an intangible asset due to the existence of an exclusive right over intangible property applicable to software. 22 Germany Greece Ireland Italy Luxembourg Netherlands Portugal Spain Capitalization of purchased Intangible assets developed internally may not be capitalized. intangibles is required. Capitalization of Goodwill is optional. They are recorded at acquisition cost. Goodwill appears as an intangible ass...
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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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