1, reflecting the amortized value of intangible assets.
2. The provision for impairment of intangible assets reflects the difference between the recoverable amount of intangible assets and the book value.
3. Net intangible assets reflect the recoverable amount of intangible assets, which is the difference between intangible assets and intangible assets impairment reserve.
4. Intangible assets are the net value included in total assets.
Please correct me if there is anything wrong with the above!
Intangible assets in financial statements mainly include four parts:
The first is intellectual property rights.
Specifically, it includes: patent right, invention, practical technology, trademark right, copyright, goodwill, etc.
Intellectual property rights can be created by themselves and then applied for registration, or acquired through purchase, and are protected by the national intellectual property law. For the sake of technological progress and popularization, the country has a certain service life, and then it is not protected.
The second is the land use right.
Land use right includes state-owned land use right and collective land use right. At present, the right to use state-owned land is obtained through bidding, auction and allocation. Bidding, auction and hanging are market transactions, and the allocation is generally for public welfare projects. The land use right has a certain term, including 70 years for residential land, 50 years for commercial land and 40 years for industrial land. When the time limit expires, it shall be withdrawn by the state. If you need to continue to use it, you can apply for an extension, and the state collects the use fee according to the actual situation.
The third is the right to use software.
Generally, the right to use the company's software is the software that needs to be used for a long time, such as financial software, design software, etc. The cost of purchasing or developing software needs to be amortized during the use period.
The fourth is the franchise.
Franchising includes franchise production, franchise sales and franchise services. For example, services such as the production and sales of automobiles and clothing, sewage treatment and garbage disposal are authorized by the state or enterprises to use and charge corresponding fees. If the franchise business scope belongs to public services, the state authorizes the franchisee to collect the use fee according to the prescribed standards or be subsidized by the finance.
To put it bluntly, it is something you can control, own, bring you profits and make money, but he doesn't have such an entity yet. He may be a patent, software, land use rights, etc.
The concept is:
Intangible assets refer to identifiable non-monetary assets that have no physical form and are owned or controlled by enterprises. Intangible assets can be divided into broad sense and narrow sense. Intangible assets in a broad sense include monetary funds, financial assets, long-term equity investment, patent rights, trademark rights and so on. Because they have no physical entity, they show some legal rights or technologies.
In accounting, intangible assets are usually understood in a narrow sense, that is, patent rights and trademark rights are called intangible assets.
Intangible assets in financial statements are accounting in a narrow sense.
Hello, I am a draft accounting exam with laws to follow and rules to follow. I will come straight to the point and refuse to answer irrelevant questions. What are intangible assets in financial statements?
This question is not difficult. The focus of intangible assets is intangible and identifiable.
Simply put, it is invisible and intangible. Therefore, intangible assets are assets owned or intangible by enterprises and have no physical form. Benchmarking fixed assets, because fixed assets can be seen and touched.
That is, it can be distinguished from other assets of the enterprise and can bring economic benefits to the enterprise independently without being attached to other assets. What is the goodwill of an enterprise? That is, when an enterprise merged with other enterprises, such as Daqiao Enterprise, it was particularly optimistic about the future of Xiaohe Enterprise, so it bought Xiaohe Enterprise at a high price of 500 million yuan. In fact, the value of Xiaohe enterprise is only 400 million yuan, so the extra 1 100 million yuan is goodwill for bridge enterprises. Because goodwill cannot be sold separately from Xiaohe enterprise, it is an unconfirmed asset, so it is not an intangible asset.
Intangible assets are identifiable non-monetary assets that are owned or controlled by enterprises and have no physical form.
Intangible assets include:
trademark right
patent
non-patent technology
copyright
chartered right
land use right
See if these intangible assets meet these two characteristics? There should be no problem. Finally, it should be noted that intangible assets are generally measured at historical cost, that is, how many intangible assets were bought at that time and how many intangible assets were in the financial statements. Therefore, intangible assets in financial statements may not reflect the market value of intangible assets.
Brand, trademark and patent
Intangible assets mainly refer to some assets in enterprises that have no physical objects but can bring economic benefits to enterprises. For example, patent rights and trademark rights are typical intangible assets. For example, the trademark Coca-Cola can bring many economic benefits to the company, even more valuable than all cokes produced every year.
Intangible assets need to meet two conditions, otherwise they cannot be recognized as intangible assets. These two conditions are as follows:
1. The economic benefits related to this intangible asset are likely to flow into the enterprise.
Assets are to bring economic benefits to enterprises. If something can't do this, let alone be identified as intangible assets, not even assets.
2. The cost of intangible assets can be measured reliably.
Only when the cost can be measured reliably can the cost and value of intangible assets be confirmed and the impairment test be carried out. Like the goodwill created by an enterprise, it conforms to the first point, but its cost cannot be measured reliably and cannot be recognized as intangible assets.
The concept of amortization of intangible assets is similar to that of depreciation of fixed assets. Due to the large amount of intangible assets and long service life, it can bring economic benefits to enterprises every year. Therefore, it is necessary to allocate the cost to each year in a reasonable way within the service life.
The most common amortization method is straight-line amortization, which is the average amortization method. For example, the value of a patent is 6,543,800 yuan, the service life of the patent is 5 years, and the amortization amount that should be included in the fixed cost or current expenses every year is 200,000 yuan. Of course, there are other amortization methods. As long as it meets the requirements, enterprises can choose the appropriate amortization method, but they can't do it hastily after choosing it.
There are many ways to deal with intangible assets in statements, such as measurement and presentation, which need attention. Due to space reasons, I won't explain it here. This subject can refer to the description of intangible assets in accounting standards. If you don't understand, please ask questions and discuss.
Intangible assets in financial statements are the net book value of intangible assets owned by enterprises in the current period, and the amount of intangible assets in financial statements is filled in according to the original value of intangible assets-accumulated amortization-intangible assets impairment reserve.
Generally, it refers to the patented intellectual property or software owned or controlled by the company.
Intangible assets in financial statements are the net book value of intangible assets owned by enterprises in the current period, and the amount of intangible assets in financial statements is filled in according to the original value of intangible assets-accumulated amortization-intangible assets impairment reserve.
Intangible assets refer to identifiable non-monetary assets that have no physical form and are owned or controlled by enterprises. Intangible assets can be divided into broad sense and narrow sense. Intangible assets in a broad sense include monetary funds, accounts receivable, financial assets, long-term equity investment, patent rights, trademark rights and so on. Because they have no material entity, they show some legal rights or technologies. But intangible assets are usually understood in a narrow sense in accounting, that is, patent rights and trademark rights are called intangible assets.