1. Describe the proper accounting for intangible assets, including their presentation and disclosure. Are costs of intangible assets required to be allocated to expense; similar to depreciation? Do intangible assets have a useful life? What is meant by impairment, as related to intangible assets? How do research and development activities differ from intangible assets? How are intangible presented and disclosed?

2. In this discussion question you will describe characteristics of intangible assets. What are intangible assets? How are they different from tangible assets? How are they valued – how is their cost determined?

Answer rating: 100% (QA)

Intermediate Accounting The cost of intangible assets should be allocated to expenses since at the e... View the full answer