JADE ANGELIE C.

MUYCO BSA-2
INTERMEDIATE ACCOUNTING 1
CHAPTER 31 DISCUSSIONS

1. Define intangible asset.

2. Explain the criteria for defining an intangible asset.
3. What are the two conditions that must be present for the recognition of an intangible
asset?
4. Explain the initial measurement of intangible asset.
5. Explain the measurement of cost of an intangible asset acquired separately.
6. Give examples of costs that are not included in the cost of intangible asset.
7. Explain the measurement of an intangible asset as part of a business combination.
8. How is intangible asset acquired by government grant measured?
9. Explain the measurement of cost of an intangible asset acquired by change.
10. What is the cost of an internally generated intangible asset?
11. Give examples of expenditures that are capitalized as cost of an internally generated
intangible asset.
12. What are the two conditions that must be met for the recognition of a subsequent
expenditure on an intangible asset.
13. Explain identifiable and unidentifiable intangible assets.
14. Explain the measurement of intangible asset after recognition.
15. Explain the amortization and impairment of intangible asset.
16. What is amortization?
17. Explain the amortization period of an intangible asset.
18. Explain the amortization method for intangible asset.
19. Explain the useful life of an intangible asset.
20. Enumerate some factors that are considered in determining the useful life of an
intangible asset.
21. Explain the residual value of an intangible asset.
22. Explain derecognition of an intangible asset.
23. What is goodwill?
24. Explain the residual approach of measuring goodwill.
25. Explain the direct approach of measuring goodwill.