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• ctual definitions, which we have called “conceptual”;
•ists of intangible assets, a kind of “inventory”.
These are not mutually exclusive. In fact, a country that applies a conceptual approach to
intangibles generally also supplies a supposedly exhaustive list of intangibles concerned. 5 Following on from this, the conceptual approaches can be divided into three categories:
• tautological definitions (for example, “an intangible asset is characterized by a lack of
physical substance”; “in order to be included in the balance sheet category entitled
“Intangible Fixed Assets”, an asset must be intangible”, etc.);
• definitions by opposition (for example “fixed assets other than tangible or financial”);
• and real definitions, that is definitions which make a genuine conceptual effort to
determine what an intangible asset is.
A table summarizing information corresponding to the figure 1 diagram is shown below
Table 1 – Definition of Intangibles in Accounting Standards
Tautological Conceptual approaches
By opposition (-) European Union
Supra-National Accounting Organizations
4 List of Intangibles
Real (+) x x
x x x
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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