Shared Flashcard Set

Details

Title

CH 12 Final Study

Description

Intangible assets

Total Cards

Subject

Accounting

Level

Undergraduate 3

Created

12/10/2016

Click here to study/print these flashcards.

Create your own flash cards! Sign up here.

Additional Accounting Flashcards

Term

When calculating goodwill on aqwasition of a company

Definition

What is paid

-

(Balance sheet) Fair value of assets + increase in fair value of land- liabilities

Term

Impairmanet assessment

Definition

Carrying value of net assets (including goodwill) >

fair value no impairment

Term

Strat up costs

Definition

Expense when incurred

Term

Costs during the research phase are

Definition

Always expensed (not capitalized) under GAAP and IFRS