In this discussion question, you will describe the proper accounting for intangible assets, including their presentation and
Question:
In this discussion question, you will 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 the characteristics of intangible assets. What are intangible assets? How are they different from tangible assets? How are they valued – how is their cost determined?
Intermediate Accounting
ISBN: 978-0324592375
17th Edition
Authors: James D. Stice, Earl K. Stice, Fred Skousen