Abstract
A company should measure an intangible asset at its fair value at the time of acquisition. The costs of internally developing, maintaining, or restoring intangible assets generally should be expensed as incurred (with some exceptions). Intangible assets other than goodwill may or may not be amortized depending on their useful lives to the entity: Assets with finite lives are amortized; assets with indefinite lives are not. Goodwill is not amortized.
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Notes
- 1.
ASC 350.
- 2.
IAS 36.
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Lessambo, F.I. (2018). Long-Term Assets: Intangibles. In: Financial Statements. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-319-99984-5_8
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DOI: https://doi.org/10.1007/978-3-319-99984-5_8
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Publisher Name: Palgrave Macmillan, Cham
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Online ISBN: 978-3-319-99984-5
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