What are the key characteristics of an intangible asset

Reference no: EM132892568

Comprehension questions

1. What are the key characteristics of an intangible asset?

2. Explain what is meant by ‘identifiability'.

3. How do the principles for amortisation of intangible assets differ from those for deprecia- tion of property, plant and equipment?

4. What intangible assets can never be recognised if internally generated? Why?

5. Explain the difference between ‘research' and ‘development'.

6. Explain when development outlays can be capitalised.

7. Explain how intangible assets are initially measured, and whether the measurement differs dependent on whether the assets are acquired in a business combination or internally gen- erated by an entity.

Reference no: EM132892568

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