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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
- 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
Spain Capitalization of purchased Intangible assets developed internally may not be capitalized.
Capitalization of Goodwill is
optional. They are recorded at
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.
- Fall '13
- The Land