Difference between revisions of "Intangible assets"

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* [[Patent]]
* [[Patent]]
* [[Recognition]]
* [[Recognition]]
* [[Research and development]]
* [[Research & development]]
* [[Tangible asset]]
* [[Tangible asset]]
* [[Tangible net worth]]
* [[Tangible net worth]]

Revision as of 12:57, 24 April 2020

1. Accounting.

For accounting purposes, intangible assets are ones that are considered to be long-term assets but are intangible in nature, such as the value of patents and goodwill generated by the business.

The principles for including this kind of intangible asset in an accounting balance sheet are that the asset must:

1. Have a cost that can be reliably measured; AND

2. Be likely to give rise to future economic benefits.

The accounting term for including such an item in a balance sheet is 'recognising' the asset.

Relevant accounting standards include IAS 38 and Sections 18 and 19 of FRS 102.


More broadly, any non-physical asset, whether it is a short-term asset or a longer-term one.

See also