Disclosure of intangible assets

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bhhasskar borggohain

student

62 Points Posted on 16 June 2011

sir as per AS-26

where do we present the intangible assets in Balance sheet.

whether the Carrying amount of Intangibles and their amortized amount is to be shown in FA schedule under a separate section"intangible assets" or in the Balance sheet itself as "intangible assets in the assets side after FA , showing therein itself the Gross Value of intangibe , amount amortised and net intangibles.

also whether Software is an intangible asset or a Fixed Asset.

Replies (2)

Shruthi

PCC Student

87 Points Posted on 17 June 2011

You show the Intangible Assets under FA Schedule at gross carrying amount and show the accumulated amortized amount along with impairment loss as like how you will show the accumulated depreciation.

And software is purely intangible asset irrespective of the fact whether it is internally generated or acquired..

CS,CA F,Numrologi TusharSampat

CS CA F Numerologist Astrologer Graph

69185 Points Posted on 17 June 2011

Originally posted by : Shruthi
	You show the Intangible Assets under FA Schedule at gross carrying amount and show the accumulated amortized amount along with impairment loss as like how you will show the accumulated depreciation. And software is purely intangible asset irrespective of the fact whether it is internally generated or acquired..