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FAR > Intangible Assets - Goodwill and Other > Flashcards

Intangible Assets - Goodwill and Other Flashcards

1
Q

Identifiable Intangible Assets

A

Copyrights, trademarks, patents

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2
Q

Identifiable Intangible Assets

A

generated by legal contract or seperable, noncurrent asset, difficult to identify and determine life (Copyrights, trademarks, patents, customer list, backorders)

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3
Q

Definite life intangible

A

a finite legal life or economic factors that indicate that the life is limited

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4
Q

Indefinite life intangible

A

no legal, regulatory, contractual or competitive factors that limit useful life

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5
Q

Disclosures for intangibles must be separately identified into which categories?

A

marketing related, customer related, artistic related, contract related, technology related, goodwill

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6
Q

Goodwill

A

excess of the Fair market value of the acquired comp over the fair market value of the identifiable assets

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7
Q

Technological Feasibility

A

point where program or model is complete but not on market yet

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FAR (30 decks)

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