Intangible assets
This query is : Resolved
08 September 2011
HOW SHOULD THE INTANGIBLE ASSETS BE TREATED???? SHOULD IT BE TREATED LIKE THE ORDINARY ASSETS ITSELF OR SOME OTHER WAYS???? example: goodwill a/c while the admission of a new partner EXPLAIN THIS WITH AN EXAMPLE AND JOURNAL ENTRY AND PLEASE EXPLAIN THE JOURNAL ENTRY TOO...........PLS........THANKING U IN ADVANCE!!!!!!!!
26 September 2011
As per new AS - 26 only the purchased goodwill is to be shown in the books
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26 September 2011
You are right the Intangible asset is to be dealt in the same lines with normal asset generally, only differs in depreciation point plus recognition criteria.
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26 September 2011
Self-generated Fixed Assets r required to be recognised as Asset whereas self generated goodwill, brand etc are not recognised as asset
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