Intangible Assets (PAS 38 / IAS 38)

Timestamps for this video: 00:00 Introduction 00:16 Definition 01:08 Essential characteristics 04:30 Concept of Goodwill 05:15 Recognition 05:42 Initial measurement 07:00 Subsequent measurement 08:04 Presentation and disclosure 08:57 Derecognition 10:08 Asset with both tangible and intangible component 11:28 Modes of acquisition of assets 17:38 Research and development phase 19:59 Research and development expenses 22:46 Illustration 1 23:25 Useful life, amortization, and residual value 27:44 Trademark 30:31 Websites 32:50 Customer list 33:43 Franchises 35:56 Copyright 37:12 Patents 38:40 Software 40:00 Organizational costs 41:31 Lump-sum price 42:32 Summary Learning objective: 1. Define and intangible asset under PAS 38/ IAS 38. 2. Discuss the initial and subsequent measurement of intangible assets that are externally acquired and internally generated. 3. Distinguish regular and Research and Development (R&D) expenses. 4. Provide accounting treatment for different types of intangible assets. Main references: Millan, Z.V. (2020), Intermediate Accounting 2 Valix, C.T., Peralta, J.F., & Valix, C.A.M. (2020), Intermediate Accounting Volume 2 Disclaimer: Thank you for visiting my YouTube channel. All information provided by us is for general informational and educational purposes only. All information is provided in good faith. However, I make no representation of any kind, express or implied, regarding the accuracy, reliability, or completeness of any information provided by the videos in my YouTube channel.