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Intangible Assets1

Intangible Assets1

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Published by hamarshi2010

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Published by: hamarshi2010 on Dec 23, 2009
Copyright:Attribution Non-commercial

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06/16/2014

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Intangible assetsIntangible assets
An intangible asset is an identifiable non-monetaryAn intangible asset is an identifiable non-monetaryasset without physical substance held for use inasset without physical substance held for use inthe production or supply of goods or services, for the production or supply of goods or services, for rental to others ,or for administrative purposes. Anrental to others ,or for administrative purposes. Anasset is a resourceasset is a resource::
--controlled by an enterprise as a result of pastcontrolled by an enterprise as a result of pasteventevent..
--From which future economic benefits areFrom which future economic benefits areexpected to flow to the enterpriseexpected to flow to the enterprise..
 
 
AIS 38
requires an enterprise to recognisean intangible asset (at cost )if, and only if :(a)- it is probable that the future economicbenefits that are attributable to theasset will flow to the enterprise.(b)- the cost of the asset can be measuredreliably.
 
 
Recognition and InitialRecognition and InitialMeasurement of anMeasurement of anIntangible AssetIntangible Asset

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