Lecture 7B - Intangible Assets

Question 1

Intangible Assets

Definiton

Answer 1

Question 2

Acquisition Model

General Recognition Criteria

Answer 2

Question 3

Intangible Assets

Ways of Acquisition

Answer 3

Question 4

Separate Acquisition

Initial Measurment

Answer 4

Question 5

Internally Generated Intangible Assets

R vs. D

Answer 5

Question 6

Internally Generated Intangible Assets

Additional Recognition Requirements

Answer 6

Question 7

Internally Generated Intangible Assets

Initial Measurement

Answer 7

Question 8

Intangible Assets

Subsequent Measurement

Answer 8

Question 9

Intangible Assets

Amortisation

Answer 9

Question 10

Intangible Assets

Amortisation Example

Answer 10

Question 11

Intangible Assets

Presentation and Disclosures

Answer 11

BS: Separate presentation, if material
R&D: Idsclosure of expenditure recognized as an expense in the notes
Roll-forward: part of the notes

Question 12

Intangible Assets

Disposals

Answer 12

Question 13

Intangible Assets

Useful Life

Answer 13

*Factors in assessing useful life: *
- Expected usage, life cycles, obsolescence, industry
- Periods of control and legal limits
- Contractual terma and renewal periods

Indefinite life intangible assets
- No foreseeable limits on periods of CFs
- Planned future expenditure other than maintenane not included
- Does not mean infinite