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This also concerns expenses for concessions patents

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Unformatted text preview: ragraphs 4 and 5, Art. 386 and 391 of Title 9 ; and Guideline 2.01 (draft) of CAR. 22 PGC, Parts 4 and 5; LSA, Articles 194 and 195. 18 19 Sweden23 UK24 Other countries Australia 25 Canada 26 Japan 27 Norway28 Switzerland 29 Non-financial fixed assets that do not have physical substance but are identifiable and are controlled by the entity through custody or legal rights. Expenses for R&D and similar works, which are of material value to the business during years to come, can be recorded as intangible assets. This also concerns expenses for concessions, patents, licenses, trade marks, renting rights and similar rights and assets, and goodwill. The financial statement category for "Intangible Assets" includes licenses, quotas, patents, know-how, trademarks, franchises and purchased goodwill. The requirements of the FRS apply to all intangible assets with the exception of: (a) Oil and gas exploration and development costs; (b) Research and development costs. (1) licenses, patents,...
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