tailieunhanh - Lecture Intermediate accounting (16th edition): Chapter 12 - Kieso, Weygandt, Warfield

Chapter 12 - Intangible assets. After completing this chapter you should be able to: Describe the characteristics of intangible assets, identify the costs to include in the initial valuation of intangible assets, explain the procedure for amortizing intangible assets, describe the types of intangible assets. | 1 Describe the characteristics, valuation, and amortization of intangible assets. 2 Describe the accounting for various types of intangible assets. 3 Explain the accounting issues for recording goodwill. LEARNING OBJECTIVES 4 Explain impairment procedures and presentation requirements for intangible assets. 5 Describe accounting and presentation for research and development and similar costs. After studying this chapter, you should be able to: Intangible Assets 12 PREVIEW OF CHAPTER 12 Intermediate Accounting 16th Edition Kieso ● Weygandt ● Warfield LO 1 Describe the characteristics, valuation, and amortization of intangible assets. Characteristics Lack physical existence. Not financial instruments. Normally classified as long-term asset. Common types of intangibles: Patents Copyrights Franchises or licenses Trademarks or trade names Goodwill INTANGIBLE ASSET ISSUES The Coca-Cola Company’s success comes from its secret formula for making Coca-Cola, not its plant facilities. Purchased Intangibles Recorded at cost. Includes all costs necessary to make the intangible asset ready for its intended use. Typical costs include: Purchase price. Legal fees. Other incidental expenses. Valuation INTANGIBLE ASSET ISSUES LO 1 Valuation Google expensed the R&D costs incurred to develop its valuable search engine. INTANGIBLE ASSET ISSUES Internally Created Intangibles Recorded at cost. Generally expensed. Only capitalize direct costs incurred in developing the intangible, such as legal costs. LO 1 Amortization of Intangibles Limited-Life Intangibles Amortize to expense over useful life. Credit asset account or accumulated amortization. Useful life should reflect the periods over which the asset will contribute to cash flows. Amortization should be cost less residual value. Companies should evaluate the limited-life intangibles for impairment. INTANGIBLE ASSET ISSUES LO 1 Indefinite-Life Intangibles No foreseeable limit on time the asset is expected to provide cash flows. Must test | 1 Describe the characteristics, valuation, and amortization of intangible assets. 2 Describe the accounting for various types of intangible assets. 3 Explain the accounting issues for recording goodwill. LEARNING OBJECTIVES 4 Explain impairment procedures and presentation requirements for intangible assets. 5 Describe accounting and presentation for research and development and similar costs. After studying this chapter, you should be able to: Intangible Assets 12 PREVIEW OF CHAPTER 12 Intermediate Accounting 16th Edition Kieso ● Weygandt ● Warfield LO 1 Describe the characteristics, valuation, and amortization of intangible assets. Characteristics Lack physical existence. Not financial instruments. Normally classified as long-term asset. Common types of intangibles: Patents Copyrights Franchises or licenses Trademarks or trade names Goodwill INTANGIBLE ASSET ISSUES The Coca-Cola Company’s success comes from its secret formula for making Coca-Cola, not its plant facilities. Purchased

• Kế toán - Kiểm toán
• Intangible assets
• Types of intangibles
• Impairment of intangibles
• Development costs
• Intermediate accounting
• Lecture Intermediate accounting
• An era of intangible assets
• Real physical presence
• Also provide future benefit
• Cost allocation
• Measuring cost allocation
• Amortization of intangible assets
• Amortizing intangible assets
• The initial valuation
• The impact of intangible assets
• Financial and governance policies
• Simultaneous equation analysis
• Corporate governance
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• Plant assets
• Natural resources
• Accounting principles
• Lecture Accounting principles
• Nguyên lý kế toán
• Intangible asset issues
• Financial accounting
• Lecture Financial accounting
• Capital expenditures
• Revenue expenditures
• Noncash acquisitions
• Interest capitalization
• Operational assets
• Introduction to Accounting
• Accounting Information
• Accounting Cycle
• Real assets
• Reporting of Intangible Assets
• Lecture Accounting 1
• Accounting for Assets
• Current assets
• Accounts receivable
• Tangible fixed assets
• Survey of accounting
• Lecture Survey of accounting
• Long term operational assets
• Long term assets
• Basket purchase allocation
• Property Valuations
• Property Exploitation
• Intellectual Property
• Trademark Defined
• International Accounting Standard
• Chuẩn mực kế toán quốc tế
• International Accounting Standard 38
• Financial statements
• Future economic benefits
• SIC Interpretation
• Standard Interpretations Committee
• International Financial Reporting Standards
• Web site costs
• SIC Interpretation 32
• Initial cost of property
• Issues in financial accounting
• Kế toán tài chính
• Recording goodwill
• Financial reporting
• Internally developed intangibles
• Socially responsible investing
• High compensation
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• Product safety and high compensation
• International Conference on Emerging Challenges
• Internal innovation
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• Asset elements
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