HSBC Holdings ple recognised intangible assets in its statement of financial position and clarified in its...
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HSBC Holdings ple recognised intangible assets in its statement of financial position and clarified in its 2014 annual report that "intangible assets include the present value of in-force long-term insurance business and long-term investment contracts with discretionary participating features, computer software, trade names, mortgage servicing rights, customer lists, core deposit relationships, credit card customer relationships and merchant or other loan relationships". IAS 38 requires that internally generated brands, mastheads, publishing titles, customer lists and items similar in substance are not recognised as intangible assets. Discuss the case of HSBC and evaluate the accounting treatment of intangible assets. HSBC Holdings ple recognised intangible assets in its statement of financial position and clarified in its 2014 annual report that "intangible assets include the present value of in-force long-term insurance business and long-term investment contracts with discretionary participating features, computer software, trade names, mortgage servicing rights, customer lists, core deposit relationships, credit card customer relationships and merchant or other loan relationships". IAS 38 requires that internally generated brands, mastheads, publishing titles, customer lists and items similar in substance are not recognised as intangible assets. Discuss the case of HSBC and evaluate the accounting treatment of intangible assets.
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