Intangible assets

User Generated

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Business Finance

Description

What are the basic issues related to accounting for intangible assets?

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Explanation & Answer

  • Some of the basic issues related to accounting for intangible assets are non-monetary assets which are not seeable. This generates time and effort to classify separate asset. Legal intangibles and Competitive intangible are customers' information, rights, and cost within the organization. It is also recorded as organization's cost.


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