Intangible Non-Current Assets

Question 1

What are examples of intangible non-current assets?

Answer 1

Brands, patents, licenses, goodwill and development.

Question 2

What is amortisation?

Answer 2

It is like depreciation for intangible assets that have a measurable useful life.

Question 3

How is goodwill treated in financial statements?

Answer 3

Goodwill can not be accurately valued so it should not be recorded as an intangible asset unless it is purchased goodwill.

Question 4

What is goodwill arising on acquisition?

Answer 4

The express of the price paid for a business over the value of the individual assets and liabilities.