Intangible Non-Current Assets Flashcards
1
Q
What are examples of intangible non-current assets?
A
Brands, patents, licenses, goodwill and development.
2
Q
What is amortisation?
A
It is like depreciation for intangible assets that have a measurable useful life.
3
Q
How is goodwill treated in financial statements?
A
Goodwill can not be accurately valued so it should not be recorded as an intangible asset unless it is purchased goodwill.
4
Q
What is goodwill arising on acquisition?
A
The express of the price paid for a business over the value of the individual assets and liabilities.
