Asked by Aubrielle Angell on Jun 02, 2024
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Accounting for intangible long-lived assets under IFRS is very similar to the accounting under U.S.GAAP.
Intangible Assets
Intangible assets are non-physical assets having a useful life greater than one year, such as patents, trademarks, and goodwill, that a company owns and can create economic benefit.
IFRS
International Financial Reporting Standards, a set of global accounting standards for financial reporting.
U.S. GAAP
United States Generally Accepted Accounting Principles, which are a set of rules and standards for financial reporting.
- Understand the accounting for intangible long-lived assets and depreciation methods.
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Learning Objectives
- Understand the accounting for intangible long-lived assets and depreciation methods.
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