FAR Intengible Asset
Definition of intangible asset (3)
An
1. identifiable
2. non-monetary
3. asset
4. without physical substance
Monetary assets
Money held and assets to be received in fixed or determinable amounts of money
The reason for including ‘non-monetary’ in the definition of intangible assets is to exclude ... from being classified as intangible assets
financial assets
An asset is identifiable if it either
1. the asset is separable
2. arises from a contract or legal rights
IAS 38's requirement that an intangible asset must be ‘identifiable’ was introduced to try to ...
distinguish it from internally generated goodwill
Lack of physical substance separates ... from ...
assets, intangible assets
After determining that an asset exists and that it meets the definition of an intangible asset, the asset must meet the two criteria.
1. probable that the future economic benefits attributable to the asset will flow to the entity
2. cost of the asset can be measured realiably
The initial measurement of an intangible asset shall be measured at ...
cost
The accounting for intangibles is based upon ...
how these assets were generated
Generating assets can be done in 4 ways:
1. separate acquisition
2. acquisition as part of a business acquisition
3. acquisition by way of a government grant
4. internally generated assets
An intangible asset acquired separately is initially measured at ... which is the ... and ...
cost, purchase price, directly attributable costs
Business combination definition:
The acquiring entity has acquired a group of assets, rather than a single asset, and one of the assets in that group is an intengible asset.
if an intangible asset is acquired in a business combination, the cost of that intangible asset is ...
its fair value at the acquisition date
Acquisition of a government grant can be done by (2):
1. recognise the intangible asset and grant at fair value
2. recognise it a nominal amount pulus directly attributable costs
The measurement approach used is one of ...
capitalisation of outlays incurred by the entity
Capitalising costs can be done in two ways:
1. reseach phase
1. development phase
Expenditures in the research phase are expensed when ...
incurred
Expenditures in the development phase are capitalised as ...
an intangible asset
Internally generated intangible assets excludes:
brands, mastheads, publishing titles, customer lists and items similar in substance
IAS 38 requires intangible assets to be initially recognised at ... . However, for assets acquired in a business combination, an intangible asset can be recognised at ...
cost, fair value
Examples of activities in the research phase are:
1. start up activities
2. training activities
3. advertising and promotional activities
4. relocating or reorgansiing part or all of an entity
Under the cost model, the asset is recorded ... and is then subject to ...
at the initial cost of acquisition, amortisation
Under the revaluation model, the asset is carried at ... , and is subject to ... and ...
fair value, amortisation, impairment charges
the fair value must be measured by ...
reference to an active market
An active market is defined in IFRS 13 as a market in which transactions take place with sufficient ... and ... to provide pricing information on an ongoing basis
frequency, volume
Intangibles such as brands, newspaper mastheads, patents
and trademarks cannot be measured at ... , as there is no ... for these assets because they are
fair value, active market, unique
If the an asset is finite, then the asset has to be amortised ...
over that life
If the asset has an indefinite life, then there is ...
no annual amortisation charge
An indefinite life means that there is no ... to the life of the asset
foreseeable end
IAS 38 contains a number of rules that are specific to intangible assets, presumably because of the relative uncertainty associated with intangible assets (2)
1. When the pattern of benefits can not be determined, the straight line method is used
2. The residual value is assumed to be zero unless there is a committment
The residual value of an intangible asset is not zero when (4):
1. there is a commitment by a third party to purchase the asset at the end of the usefull life, OR
2. there is an active market for the asset, AND
3. residual value can be determined by reference to that market AND
4. it is probable that such a market will exist at the end of the asset's useful life
An indefinite asset is required to test for impairment ...
1. Annually, and
2. When there is an indication of impairment
The useful life of an intangible asset that is not being
amortised must be ...
reviewed each period
Retirement and disposals
1. Treartment identical to IAS 16
2. Derecognized on disposal
3. Amortized calculated up to the point of sale
Disclosures required for each class of ... and for ... to be distinguished from ...
intangible assets, internally generated intangibles, other intangibles
| Quiz |
|---|
| week 13 |
| latn 8 |
| módulo 1 M |
| practical lab 4 |
| DP-203 |
| AUTOMAÇÃO 2MALHAS, SISTEMAS, CONTROLE, AUTOMACAO,DIAGRAMA DE BLOCOS |
| AUTOMAÇÃO 2ALGEBRA DE BOOLE, VALVULAS E ETC |
| kanjikanji p4 |
| Processo Civil |
| funções da linguagem |
| ARTE - copy |
| easter |
| ARTE |
| compTIA security |
| reino plantae |
| biologia |
| Esôfago |
| Cadeia Carbônica |
| redes urbanas |
| AIK |
| Inglês Nivel 1 e 2 |
| biological explanations for schiz |
| droit notarial exam 1 |
| wiskundekwadraten t/m 25 |
| poliktik och demokrati |
| duits schrit 1 (4) |
| duits schrit 1 (3) |
| duits shrit 1 (2) |
| duits schrit 1 |
| Intangible Assets |
| verbs e questions |
| CHAPTER 5: INTERNATIONAL FINANCIAL INSTITUTIONS AND GLOBAL CORPORATION |
| AS BUSINESS | Unit 2 exam revision |
| spanska |
| C1-C2 level italian vocabulary |
| B1 B2 level italian vocabulary |
| important and hard italian vocabulary |
| italian vocabulary |
| plant ID week 4 |
| anatomy bio |
| Biologydigestion |
| Week 8- Skin Care2: Treating Hyperpigmentation |
| Wk 8 - skincare 2 Intro to Chemical Exfoliation |
| tutorial lab 3 |
| Week 7- Skin care 2: UV & Pigmentation |
| Week 6- Skin Care 2: Serums & MLD |
| examen 1 |
| 9.1 |
| bio 112L digestive |
| Bio 112 L stomach digestive ahhh |
| Опорно-рухова система людини |
| Skogsbrandhund |
| Nervos CranianosOrdem
Localização
Tipo
Responsabilidade |
| Cardio |
| philosophy |
| CHAPTER 4: THEORIES OF GLOBAL STRATIFICATION (CONTEMPOPARY WORLD) |
| vetenskapliga perspektivinför tenta |
| spagnolo |
| Computer |
| Analise de documentos |
| saldaçoes |
| fisiologia |
| Entre os estudos iniciais em Psicologia do Esporte encontra-se o de Fitz (1897), |
| Religion |
| CHAPTER 3: MARKET INTEGRATION (CONTEMPOPARY WORLD) |
| swedish hjälp verbndnxnx |
| JobsRevise jobs studied |
| german 21 |
| Art B1 Midterm Study |
| PathologieLa douleur |
| introduction |
| metabolismo |
| Quiz 2 (Lessons 7-12) |
| celler |
| Vocabulaire de la semaine 11 |
| Presentation 6 |
| Economie H14/15/16 Formules |
| försvarsmekanismer |
| kommunikation |
| GI Drugs |
| primeira guerra |
| Preposotions of PlacePrepositions of place describe the location of people or objects in relation to other things. |
| m tecnique |
| biomi e biosfera |
| FAR Provisions and Contingent Liabilities |
| verbi deponenti |
| maatschappijleer 2ja |
| date |
| physic |
| personnelest-ce que je m'appelle nadjima ? |
| 10 vocabulaire de théâtre |
| células |
| Aardrijkskunde 3.2 t/m 3.4 |
| historia |
| schizophrenia |
| schiz - reliability and validity |
| FAR PPE |
| Chapter 5 |
| Svåra ord |
| subjonctif vs indicatif |
| Anthro week 9-10 cards |
| geschiedenis se4 |
| Privatjuridik arbetsrätt |
| Tree ident 2 latin to english |
| Tree ident 2 |
| Vocabulary 2 |
| spanish 3 |
| 'Feel Me' |
| s |
| aardrijkskundehfd 2 & 3 |
| maatschapijleer toetsweek 3 |
| FRANS ZINNENNNN |
| Initial kurs |
| Franska kap 11 glosor |
| wallpaper M |
| The yellow wallpaper |
| AardrijskundeAardrijkskunde paragraaf 2,3,4,5,7 |
| TTM |
| Hispanic Artists Quotes |
| Quiz personalizzati 7 |
| spanish 2 |
| US révision Dossier 2 Thème 2OOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO |
| Tarea para |
| latijn 3 |
| latijn 2 |
| latijn 1 |
| economie |
| economie |
| ljud o vibrationer |
| circulation |
| ccna3 - kopia |
| ccna3 |
| week 15 |
| LATEN WE WAT KLIMATEN NOEMENNNN |
| Marjan |
| prov europeiska unionen |
| PLL 2 Look |
| priv ideologier och parier |
| prov svenskt stadskick |
| prov demokrati och diktatur |
| prov hinduism |
| Business Marketing Aim B - copy |
| Business Marketing Aim A - copy |
| india city codes |
| 8 prinicperna |
| prov islam |
| Socialpsykologi föreläsning 2 (Kapitel 3 och 4) |
| Socialpsykologi Föreläsning 1 (Kapitel 1) |
| reactiepatronen anorganische stoffen |
| Spells, Potions, and Other Magic (purple) |
| Hogwarts, Other Locations, and Transportation (blue) |
| Witches, Wizards, Ghosts, and Muggles (pink) |
| Animals, Magical Creatures, and Magical Beings (orange) |
| Objects & Artifacts (yellow) |
| zoutennaamgeving |
| kapitel 17 |
| Module 1 |
| oxidennaamgeving + OG |
| hydroxidesnaamgeving |
| zurennaamgeving + OG |
| Slytherin House, Death Eaters, and the Dark Arts (green) |
| lessico francese sui viaggi |
| Mikro tenta |
| prov kristendom |
| spanish words and frases |
| Zuurrrestennaamgeving + Oxidatiegetal |
| les résaux |
| bloc A |
| Business market share 1.1.1 |
| vragen gs babet |
| Heart test: heart structures and vessels and their function |
| französich vokabeln |
| Mini unit 7 Math test |
| Duggan rätt i socarb |
| biologie se4thema 12, 13 en 14 |
| final micro |
| Presentation 3 |
| German |
| Week 9 flashcards- |
| vocabulary |
| begrippen geschiedenis |
| frans Babetinternet en veiligheid klopt niet |
| Kapitel Dfrågor till provet |
| HKK - VT åk8 |
| Computer Science1.3.3 |
| Immune System - Cell Biology Semester 2 |
| Buddhism test |
| Cardiac cycle part of the test |
| Heart anatomy part of test |
| Remember An Inspector Calls quotes |
| Nationalekonomiska teorier |
| nederlandswoorden lijst 1,2,3 woordenshat |
| Autores romanticos |
| français |
| Unit 3 Gov't Exam (Part 2) |
| AFKafk analgesic flashcards are here |
| Unit 3 Exam (Part 1) |
| german 20 |
| Dugga |
| snt web |
| airport codes |
| Brunst och Födsel |
| s |
| hkk |
| BokstaveringalfabetBokstaveringeifalfabetpet |
| 2 Look OLL After Cross |
| Aws S3 |
| plant ID week 3 |
| American West |
| practical lab 3 part 3phylum anthropoda |
| FRANS ÊTREEEE |
| FRANS DAGEN VAN DE WEEK |
| FRANS FFFF |
| TP revision key words |
| Biologi Prov |
| HKK prov |
| religon judendom |
| Law Midterm - copy |
| My Mandarin |
| FRANS EEEEE |
| FRANS BBBBB |
| PhysicsPhysics[Quantum] |
| AS ECONOMICS ⏐ Units 1n2 exam revision |
| engelska glosor unit 1 |
| Functionalist |
| Filosofie begrippen module 2begrippenlijst sociale filosofie klas 4 module 2 |
| PT most used verbs (35) |
| Ions polyatomiques |
| ions monoatomiques |
| sc.hum |
| WHF 3 |
| Chapter 6/9 - copy |
| law |
| social. |
| conflict and peace |
| Health conditonsweek 8 & 9 |
| Franse woordjes voorwerpen beschrijvenDécrire un produit ou objet |
| spanish assessment |
| FRANS AAAA |
| Most used words in English |
| Unit 3 Part 2 |
| Analytisk kemi |
| Classics test 1test |
| Unit 3 Part 1 |
| Bunding enertgy |
| Bio 112L Respiratory System |
| bättre jakt - dovvilt - nya |
| religion |
| CREE phrases |
| Proof Reading/EditingAcademic Writing Quiz 5 |
| CREE NOUNS |
| CREE BODY PARTS |
| CREE FOODS |
| CREE ANIMALS |
| biologia hormonasdenso |
| Psychology 100 Final (Chapters 9-14) |
| Law Midterm |
| History of the Atom Model |
| FAR Revenue Recognition |
| Science topic 9my flashcwrds of the topic 9 science test |
| 1-10th Amendments |
| Estilo indirecto |
| tyska 1 |
| tranlate |
| English 2 |
| nouns pt1 |
| Buddhism reading quiz #2 |
| latn 7 |
| Cold War Questions - copy |
| cree prepositions pt2 |
| cree prepositions |
| spainish 💵🤪💅👰♂️ |
| Zenuwstelsel Y1-KT |
| Chapter 6 - copy |
| Axial/Appendicular Skeleton 4/5 - copy |
| plant id week 2plant ID flashcards |
| earth science vocab |
| 2do parcial EO |
| Pansements et Soins de plaies |
| Cold War Questions |
| PTP léky |
| Linguistic terminologyEnglish |
| Symbole des contreintes |
| Les contreintes |
| history #8 |
| bättre jakt - dovvilt |
| Hkk instuderings frågor |
| ouyegfuqydgv wgdfvu gwsfv uadfvcyadfuv qadfkc qdofhub iouq |
| Presentation 4 |
| Soins et Méthodes 2Glycémie capillaire |
| Plate tectonics, Volcanoes, San andreas fault, |
| Plate Tectonics |
| sound test |
| sound vocab quiz |
| Soins et Méthodes 2Asepsie chirurgicale et
Prélèvement de liquides ou de matières biologiques |
| gestion le + important |
| canada |
| new zealand and pacific |
| australia |
| europe beachs |
| Europe cities |
| S.ASIA |
| N.Asia |
| S.E asia |
| FAR Conceptual Framework |
| gestion.2 |
| diversité |
| kap 16 |
| Gestion.1 |
| FAR Institutional background |
| cca |
| cca stewardexam cca |
| french module 3 |
| f |
| Anthro weeks 7-8 |
