[pic] (The Walt Disney Company) The Intangibles On the balance sheet of many corporations you find listed under non-current assets any intangibles a company might have. I’ve included a copy above of The Walt Disney Company’s balance sheet as an example. It lists intangible assets and goodwill separately near the bottom of the asset section. I’ll be discussing various intangibles such as goodwill and how they are acquired, recorded and valued in accordance with both GAAP and IFRS. It’s important
Words: 1667 - Pages: 7
subsequent to original acquisition? 2 10. Define fair value in IAS 16. 11. If the enterprise chooses to follow the revaluation model, revaluation must be made ______ ________ that the carrying amount of assets does not differ materially from the assets’ fair value. 12. IAS 16 requires that all assets of _____ ______ ______ be revalued at the same time. 13. Revaluation increases are ______ directly to the other ____________ ________ component of ________ as a revaluation _________. 14. How is depreciation
Words: 520 - Pages: 3
subsequent to original acquisition? 11. Define fair value in IAS 16. 12. If the enterprise chooses to follow the revaluation model, revaluation must be made ______ ________ that the carrying amount of assets does not differ materially from the assets’ fair value. 13. IAS 16 requires that all assets of _____ ______ ______ be revalued at the same time. 14. Revaluation increases are ______ directly to the other ____________ ________ component of ________ as a revaluation _________. 2 15.
Words: 803 - Pages: 4
MFRS 138 – INTANGIBLE ASSETS QUESTION 6. a) According to MFRS138, an intangible asset is an identifiable non-monetary asset without physical substance but is expected to give future economic benefits to the entity. For an item to be classified as intangible asset,there are criterias need to be fulfilled which is identifiability, control and future economic benefits. An asset is identifiable if it either is separable, is capable of being separated or divided from the entity and sold,transferred
Words: 336 - Pages: 2
primary assets, is the secret in the sauce and the glue that holds the corporation together (Back, 2010). However, despite the importance of the employees, the companies do not include them as an asset in the balance sheet where all the other assets are being recorded (Kaye, 2012; McGrath, 2010). Employees are considered as an intangible asset to the company (Back, 2010). There are some reasons why employee is not or should not be include in the balance sheet as an asset. Many intangibles such as
Words: 949 - Pages: 4
development project Drug X from Bust-a-Knee to Pharmers. Based on the analysis, we recommend Options #3 as the approach to record the journal entries at the date of transfer. The first option records the acquisition of Drug X and OuchX into an intangible account -- “ownership”. In the case of transfer ownership of the IPR&D of Drug X from Brust-a-Knee to Pharmers, Brust-a-Knee receives $2 million cash and incurred $2 million loss. The disadvantage of treating the $2 million loss into the expense
Words: 1729 - Pages: 7
|235,000 | | |Goodwill |278,400 | | | Intangible Assets | |698,050 | | |
Words: 1180 - Pages: 5
IAS 38 — Intangible Assets Overview IAS 38 Intangible Assets outlines the accounting requirements for intangible assets, which are non-monetary assets which are without physical substance and identifiable (either being separable or arising from contractual or other legal rights). Intangible assets meeting the relevant recognition criteria are initially measured at cost, subsequently measured at cost or using the revaluation model, and amortised on a systematic basis over their useful lives (unless
Words: 597 - Pages: 3
Taylor Hagans DeVry University Financial Statement Analysis of Apple, Inc. 10/14/2012 Question 1 | |2010 |2009 | |Property and equipment, net | 4,768 | 2,954 | |Depreciation expense | 1,027 | 734 | |Cash flow:
Words: 1179 - Pages: 5
A recent commercial for a major computer company’s e-business consulting practice showed a CEO, in a state of high excitement, expostulating about a thick book he held in his hands. “Here it is,” he exclaimed, “it cost $2 million. The best strategy ever! Now the question is, ‘is it implementable?’” We then watch his face fall as, one by one, his executives consider the question and reply “No.” Numerous studies have noted the very weak relationship of strategy formulation to strategy execution. Fortune
Words: 1016 - Pages: 5
