Scribd
Upload
7 views1 page

Intangible Assets Scope in

Intangible assets are non-physical assets recognized under PAS 38, including patents, copyrights, trademarks, and software. They must be separable or arise from legal rights, provide economic benefits, generate future cash flows, and be controlled by the entity. Examples include trademarks that enhance brand value and patented technologies owned by a company.

Uploaded by

Ally Serafine
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
7 views1 page

Intangible Assets Scope in

Intangible assets are non-physical assets recognized under PAS 38, including patents, copyrights, trademarks, and software. They must be separable or arise from legal rights, provide economic benefits, generate future cash flows, and be controlled by the entity. Examples include trademarks that enhance brand value and patented technologies owned by a company.

Uploaded by

Ally Serafine
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

Intangible assets refers to the specific assets that qualify as intangible under accounting standard, PAS 38 - Intangible Assets.

Examples of Intangible Assets


 Patents
 Copyrights
 Trademarks
 Licenses and Franchises
 Computer software
 Customer lists
 Customer or supplier relationships

Intangible assets are assets that meet the following conditions:


 An intangible asset must be separable (can be sold, transferred, licensed, or exchanged) or arise from contractual or legal rights,
regardless of whether they are separable.

Example:

a. Patents and trademarks (arising from legal rights).


b. Copyrights (contractual rights).

 Intangible assets do not have physical substance but provide economic benefits.

Example: Software programs, which are intangible, even if delivered on physical media.

 The intangible asset is expected to generate future cash flows or benefits.

Example: A trademark that enhances brand value and increases customer loyalty.

 The entity must have control over the asset. This means it has the ability to obtain future benefits and restrict others from
accessing them.

Example: A company owning a patented technology it developed.

You might also like