Intangible assets - Revision history

imported>Doug Williamson: Add links.

2021-12-16T14:45:53Z

Add links.

← Older revision		Revision as of 14:45, 16 December 2021
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	* [[Financial reporting]]		* [[Financial reporting]]
	* [[Fixed assets]]		* [[Fixed assets]]
			* [[Fungible]]
	* [[Gearing]]		* [[Gearing]]
	* [[Goodwill]]		* [[Goodwill]]
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	* [[Know-how]]		* [[Know-how]]
	* [[Net worth]]		* [[Net worth]]
			* [[Non-fungible token]]
	* [[Patent]]		* [[Patent]]
	* [[Recognition]]		* [[Recognition]]

imported>Doug Williamson: Expand definition.

2021-08-10T22:57:05Z

Expand definition.

← Older revision		Revision as of 22:57, 10 August 2021
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	1. ''Financial reporting''.		Intangible assets are the most important assets for many organisations.

			Intangible assets include know-how, goodwill, patents, and many others.

			Some intangible assets are recorded in organisations' balance sheets, but many of them are not.


			1. ''Financial reporting''.

	For accounting and financial reporting purposes, intangible assets are ones that are considered to be long-term assets but are intangible in nature, such as the value of patents and goodwill generated by the business.		For accounting and financial reporting purposes, intangible assets are ones that are considered to be long-term assets but are intangible in nature, such as the value of patents and goodwill generated by the business.
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	* [[FRS 102]]		* [[FRS 102]]
	* [[Intellectual property]]		* [[Intellectual property]]
			* [[Know-how]]
	* [[Net worth]]		* [[Net worth]]
	* [[Patent]]		* [[Patent]]

imported>Doug Williamson: Expand definition.

2021-08-04T15:18:16Z

Expand definition.

← Older revision		Revision as of 15:18, 4 August 2021
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	'''3. Intellectual property'''		'''3. Intellectual property'''

	:If it has been bought, Yes.		:If it has been bought, Yes - recognised.

	:If it is internally generated, No.		:If it is internally generated, No - not recognised.

imported>Doug Williamson: Layout.

2021-08-04T15:17:15Z

Layout.

← Older revision		Revision as of 15:17, 4 August 2021
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	1. ''~~Accounting~~''.		1. ''Financial reporting''.

	For accounting purposes, intangible assets are ones that are considered to be long-term assets but are intangible in nature, such as the value of patents and goodwill generated by the business.		For accounting and financial reporting purposes, intangible assets are ones that are considered to be long-term assets but are intangible in nature, such as the value of patents and goodwill generated by the business.


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	2.		2. ''Assets.''

	More broadly, any non-physical asset, whether it is a short-term asset or a longer-term one.		More broadly, any non-physical asset, whether it is a short-term asset or a longer-term one.

imported>Doug Williamson: Add link.

2021-06-04T19:14:26Z

Add link.

← Older revision		Revision as of 19:14, 4 June 2021
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	* [[Goodwill]]		* [[Goodwill]]
	* [[IAS 38]]		* [[IAS 38]]
			* [[Impairment]]
	* [[FRS 102]]		* [[FRS 102]]
	* [[Intellectual property]]		* [[Intellectual property]]

imported>Doug Williamson: Add link.

2021-03-14T22:37:36Z

Add link.

← Older revision		Revision as of 22:37, 14 March 2021
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	* [[Assets]]		* [[Assets]]
	* [[Balance sheet]]		* [[Balance sheet]]
			* [[Brand]]
	* [[Financial reporting]]		* [[Financial reporting]]
	* [[Fixed assets]]		* [[Fixed assets]]

imported>Doug Williamson: Add example.

2020-05-20T22:47:12Z

Add example.

← Older revision		Revision as of 22:47, 20 May 2020
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	<span style="color:#4B0082">'''''~~Examples of recognising~~:'''''</span>		<span style="color:#4B0082">'''''Example 1: intangible assets recognised and not recognised'''''</span>

	'''1. Orderbook'''		'''1. Orderbook'''
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	:If it is internally generated, No.		:If it is internally generated, No.


			<span style="color:#4B0082">'''''Example 2: star players valuation'''''</span>

			:A 'home grown' star football player should be just as valuable to a club as one who has been bought-in.

			:But the balance sheet would only include the bought-in players, not the home grown ones.

			:A valuation of the company for sale or purchase should recognise the playing value of all talented players, regardless of whether they were bought-in or home grown.

imported>Doug Williamson: Add examples of recognising the asset.

2020-05-20T15:52:16Z

Add examples of recognising the asset.

← Older revision		Revision as of 15:52, 20 May 2020
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	The accounting term for including such an item in a balance sheet is 'recognising' the asset.		The accounting term for including such an item in a balance sheet is 'recognising' the asset.


			<span style="color:#4B0082">'''''Examples of recognising:'''''</span>

			'''1. Orderbook'''

			:Not recognised, because it does not have a cost that can be reliably measured.


			'''2. Employees'''

			:Not normally recognised, because there is not a cost that can be reliably measured.

			:Exceptions include star footballers, that have been bought. The transfer fees and other costs paid are recognised as intangible assets.


			'''3. Intellectual property'''

			:If it has been bought, Yes.

			:If it is internally generated, No.

imported>Doug Williamson: Mend link.

2020-04-24T12:57:03Z

Mend link.

← Older revision		Revision as of 12:57, 24 April 2020
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	* [[Patent]]		* [[Patent]]
	* [[Recognition]]		* [[Recognition]]
	* [[Research ~~and~~ development]]		* [[Research & development]]
	* [[Tangible asset]]		* [[Tangible asset]]
	* [[Tangible net worth]]		* [[Tangible net worth]]

imported>Doug Williamson: Add second definition.

2020-04-24T12:55:18Z

Add second definition.

← Older revision		Revision as of 12:55, 24 April 2020
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	''Accounting''.		1. ''Accounting''.

	~~Intangible~~ assets are ones that are considered to be long-term assets but are intangible in nature, such as the value of patents and goodwill generated by the business.		For accounting purposes, intangible assets are ones that are considered to be long-term assets but are intangible in nature, such as the value of patents and goodwill generated by the business.


			The principles for including this kind of intangible asset in an accounting balance sheet are that the asset must:

			1. Have a cost that can be reliably measured; AND

			2. Be likely to give rise to future economic benefits.


			The accounting term for including such an item in a balance sheet is 'recognising' the asset.


	Relevant accounting standards include IAS 38 and Sections 18 and 19 of FRS 102.		Relevant accounting standards include IAS 38 and Sections 18 and 19 of FRS 102.


			2.

			More broadly, any non-physical asset, whether it is a short-term asset or a longer-term one.


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	* [[Amortise]]		* [[Amortise]]
	* [[Assets]]		* [[Assets]]
			* [[Balance sheet]]
			* [[Financial reporting]]
	* [[Fixed assets]]		* [[Fixed assets]]
	* [[Gearing]]		* [[Gearing]]
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	* [[Net worth]]		* [[Net worth]]
	* [[Patent]]		* [[Patent]]
			* [[Recognition]]
			* [[Research and development]]
	* [[Tangible asset]]		* [[Tangible asset]]
	* [[Tangible net worth]]		* [[Tangible net worth]]

	[[Category:Accounting,_tax_and_regulation]]		[[Category:Accounting,_tax_and_regulation]]
			[[Category:The_business_context]]