Intangible assets
This query is : Resolved
Chintan Patel
(Querist)
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!!!!!!!!
CA Pushpendra Gaur
(Expert)
26 September 2011
As per new AS - 26 only the purchased goodwill is to be shown in the books
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CA Pushpendra Gaur
(Expert)
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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CA Pushpendra Gaur
(Expert)
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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