Once the project reaches this technological feasibility point, then the cost after that when you're developing it could be capitalized and then amortized over time. So when you're trying to come up with a new product your doing research, that gets expensed immediately. After the point that the software project reaches technological feasibility, and under IFRS, any kind of development expense could be capitalized. Under US GAAP, Software Development R&D can be capitalized. There's a little bit of difference internationally. These are all expensed when the cost is incurred. So common things you see in this category would be R&D, Advertising, Employee Training. Internally-developed means that, you spend money to develop these benefits internally, but have never acquired them in a market transaction. In general, US GAAP and IFRS require that internally-developed intangibles be expensed immediately. You can't load them in the back of a truck and move them from one place to another. So recall that intangible assets are assets that do not have a physical form. And what does it mean if we have an impairment of goodwill. In this video, we're going to talk about intangible assets, including what determines what types of things can be recognized as intangible assets on the balance sheet, and what the heck is this thing called goodwill.
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