Q1 1. an intangible asset should be amortised and written off on a systematic basis over the asset’s economic life 2. internally generated goodwill may be carried in the statement of financial position if the value can be determined with reasonable certainty 3. internally generated brands can never be recognised as intangible assets Which of the following is consistent with IAS 38 Intangible assets? A 1 and 2 only B 1 and 3 only C 2 only D 3 only Q2 During 20x7‚ Research
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| Less: Accumulated depletion | 108‚000 | 392‚000 | | Buildings | 1‚100‚000 | | | Less: Accumulated depreciation | 650‚000 | 450‚000 | | Total property‚ plant‚ and equipment | | | 842‚000 | Intangible assets | | | | Goodwill | | | 410‚000 | Do It 9-4 Intangible | Rights‚ privileges‚ and competitive advantages that result from the ownership of long-lived assets that do not possess physical substance. | Amortization | The allocation of the cost of an intangible
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combination reflected the following balances: A careful review of the fair value of Silver’s assets and liabilities indicated that inventory‚ land‚ and buildings and equipment (net) had fair values of $65‚000‚ $100‚000‚ and‚ $300‚000 respectively. Goodwill is assigned proportionately to Bristle and the noncontrolling shareholders. 1. Based on the preceding information‚ what amount of inventory will be included in the consolidated balance sheet immediately following the acquisition? A. $0 B
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IAS 38 INTANGIBLE ASSETS | | |HISTORY OF IAS 38 | |February 1977 |Exposure Draft E9‚ Accounting for Research and Development Activities | |July 1978 |IAS 9 (1978)‚ Accounting for Research and Development Activities | |1 January 1980 |Effective Date of IAS 9 (1978)
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operation. …………………………………………………. Training Expense in Income Statement 10. Purchase cost of a franchise. ……………………………. Intangible Assets in Balance Sheet 11. Goodwill generated internally. ………………………….…. No Recording 12. Cost of testing in search for product alternatives. …………………………………………………. R& D Expense in Income Statement 13. Goodwill acquired in the purchase of a business. …………………………………………………. Intangible Assets in Balance Sheet 14. Cost of developing a patent. R& D Expense in Income
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DEVRY UNIVERSITY Comcast Corporation Financial Analysis of 2013 Annual Reports Intermediate ACCT II project 6/15/2014 Analysis by Page Table of Contents Introduction The Comcast Corporation is the largest cable and home internet provider in the United States. The company functions as a cable provider and ISP‚ including telephone services for residential and commercial customers throughout the US. This makes Comcast a central focus for both customer and competitor criticism
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Re: Food For Thought Objective 1. Determine the total considerations transferred. 2. The land and buildings should be recorded on the premise of “in-use” or “in-exchange”. 3. Determine the fair value recorded for the intangible assets. Applicable accounting pronouncement ASC 805-20-25 Business Combinations-Identifiable assets and liabilities and any non controlling interest-Recognition Recognition Conditions 25-2 To qualify for recognition as part of applying
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TABLE OF CONTENTS 1) Introduction 2) Plant Assets 3) Cost Subsequent to Acquisition 4) Valuation 5) Disposal of Plant Assets 6) Intangible Assets 7) Financial Reporting for Plant Assets 8) Conclusion 9) Bibliography and References 1) Introduction This paper includes‚ to the best of my knowledge and research‚ information pertaining the acquisition and disposal of plant assets. This includes terms‚ examples‚ descriptions and general accepted accounting principles necessary to
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parts 1 and 2‚ assume that DDC Distribution and HC Holding are aggregated to be one reporting unit. Type your answers using Microsoft Word. “Goodwill is defined as an asset acquired in a business combination that has future economic benefit and is result of acquired assets that could not be separately recognized and identified individually. Goodwill that is computed in a business combination using the provisions of ASC business combination is not
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Quiz 09 Submission View Question Set Question 1 0.5 / 0.5 points Goodwill is only recorded when generated internally. can be subdivided and sold in parts. can only be identified with the business as a whole. can be defined as normal earnings less accumulated amortization. Question 2 0.5 / 0.5 points All of the following are intangible assets except land. patents. copyrights. leaseholds. Question 3 0.5 / 0.5 points The cost of a long-lived asset (except land) is expensed
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