As 26 intangible assets pdf free

This accounting standard includes paragraphs set in bold italic type and plain type, which have equal authority. The following terms are used in this statement with the meanings specified. Accounting standard no 26 intangible assets vinod kothari. The purpose of this standard is to prescribe the recognition and measurement criteria for intangible assets that are not covered by other standards. Today we are providing complete details of accounting standard 26 intangible assets objective, scope, definitions, which factors we should keep in mind while calculating useful life intangible asset, disclosure etc. Differences between as 26 and ind as rupee tax view. In india, this issue is dealt by the as26, intangible assets, issued by the institute of charted accountant icai, the apex accounting institute of india. Copies of this exposure draft may be downloaded freeofcharge from the. As 26, intangible assets, recognition, research and.

Intangilbe assets means assets, without physical substance, which are under control of entity held for use,production of goods, rendering of services and having future economic benefits. As 26 intangible assets applicability summary notes pdf in previous articles, we have given as 9 revenue recognition and as 10 fixed assets. Paragraphs in bold italic type indicate the main principles. If an intangible asset is acquired in exchange for shares or other securities of the reporting enterprise, the asset is recorded at its fair value, or the fair value of the securities issued, whichever is more clearly evident. In addition, the cost of a separately acquired intangible asset can. This standard was issued in 2002 and came into effect from 1april2003 and is mandatory for. As 26 intangible assets intangible asset mergers and. Pdf accounting of intangible assets indian as 26 researchgate.

No intangible asset arising from research or from the research phase of an internal project shall be recognised. As 26 intangible assets free download as powerpoint presentation. Recoverability of the carrying amountimpairment losses. Watch all the videos free of cost on my youtube channel. Scribd is the worlds largest social reading and publishing site. Expenditure on research or on the research phase of an internal project shall be recognised as an expense when it is incurred. Accounting of intangible assets indian as 26 iosr journal.

Although all intangible assets are very valuable and critical to a firm, according to current accounting practices all of them cant be recognized as assets in the balance sheet of a firm. When the asset is acquired free of charge or for a normal consideration, by way of government grant, then it is recognized at a nominal value or at the acquisition. In some cases, an intangible asset may be acquired free of charge, or. Corporate intellectual property, including items such as patents, trademarks, s and business. As 26 intangible assets applicability summary notes ppt icai. View notes as26 from accounting 20 at institute of chartered financial analysts of india. An intangible asset arising from development or from the development phase of an. Capitalisation of intangible assets that is, when can expenditure be capitalised and taken as cost of intangible p p g assets, and when is it to. As 26 intangible assets intangible asset goodwill accounting.