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Intangible Assets Overview: Taglish Guide

The document provides a comprehensive overview of various intangible assets, including patents, trademarks, copyrights, and more, detailing their meanings, legal/useful lives, amortization, impairment, and examples. It distinguishes between finite and indefinite life assets, explaining the amortization process and impairment testing requirements. Additionally, it includes a mnemonic to help remember the types of intangible assets.

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3 views1 page

Intangible Assets Overview: Taglish Guide

The document provides a comprehensive overview of various intangible assets, including patents, trademarks, copyrights, and more, detailing their meanings, legal/useful lives, amortization, impairment, and examples. It distinguishes between finite and indefinite life assets, explaining the amortization process and impairment testing requirements. Additionally, it includes a mnemonic to help remember the types of intangible assets.

Uploaded by

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

INTANGIBLE ASSETS – COMPLETE REVIEWER (Taglish

Summary Sheet)
ASSET TYPE MEANING (Taglish) LEGAL / USEFUL LIFE
AMORTIZATION IMPAIRMENT EXAMPLE
PATENT Karapatan ng inventor na kontrolin
20ang
years
paggamit ng invention
Yes – overniya.
useful or legal
If may
life,indication
whicheverngisloss.
shorter.
Patent sa medical device

TRADEMARK / TRADE
Brand
NAMEname, logo, or slogan ng product.
10 years (renewable)
No (if indefinite life) Annual impairment test.
Nike, Jollibee, Coca-Cola

COPYRIGHT Exclusive right ng author, artist, or


Life
composer.
of author + 50 years
Yes – over useful life. If may indication ng loss.
Book, song, movie.

FRANCHISE Karapatan na gamitin ang brand Depende


o system sa
ng contract
ibang business.
Yes kung definite life Annual kung indefiniteJollibee, 7-Eleven branch

BROADCASTING LICENSE
Permit para mag-operate ng TV oDepende
radio station.
kung renewable
Yes kung finite life, no Annual
kung renewable
kung indefinite
indefinitely
GMA, TV5 license.

LEASE RIGHT (Leasehold


Karapatan
Right) gamitin ang lupa o building
Duration
for ng
a specific
lease contract
period.
Yes – over lease term If may impairment indicators
25-year land lease sa ma

AIRLINE RIGHT (Landing/Route


Right to operate
Right) specific flight routes
Usually
or land
indefinite
sa airports.
(renewable)
No kung renewable indefinitely
Annual test required Flight routes ng Philippin

CUSTOMER LIST Listahan ng regular customers – Finite


valuable
life for
(usually
marketing.
3–5
Yes
years)
– over expected benefit
If mayperiod
signs ng value Customer
drop list ng Globe T

ORGANIZATION COST
Gastos sa pag-form ng corporation
Short-term
(legal, registration).
/ one-time
Expense agad (under IFRS)
N/A SEC registration fees.

WEBSITE DEVELOPMENT
Gastos
COST
sa paggawa ng website ng
Useful
company.
life ng website
Yes
(3–5
– after
years)
development
If site
phase
becomes
(once usable)
obsolete
Company
or unused
e-commerce w

■ Finite life → may amortization.


■ Indefinite life → walang amortization, pero yearly impairment test.
■ Research phase → expense agad.
■ Development phase → pwede i-capitalize kapag functional na.
■ Organization cost → under IFRS, expense agad (hindi intangible).
■ Memory Trick: “PaTrCoFrBroLeAiCuOrWe” = Patent, Trademark, Copyright, Franchise,
Broadcasting, Lease, Airline, Customer list, Organization, Website.
■ May Amortization lang si Pa-Co-Fr-Le-Cu-We (finite). Impairment only si Tr-Bro-Ai
(indefinite). Expense agad si Or.

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