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Basic Question 1 of 6
If an intangible asset is acquired in a non-business-combination transaction, it should be ______.
B. capitalized
C. included as part of goodwill
A. expensed
B. capitalized
C. included as part of goodwill
User Contributed Comments 5
User | Comment |
---|---|
Renaud1807 | US Gap=expensed, IFRS=goodwill, isnt it? |
cong | Internally generatel intangible assets should be expensed (R&D is an exception) |
DariSH | acquired is the main point here |
rocyang | makes sense, what's the harm in cutting non-business acquisition some slack? (non-conservatism) |
domedome | what is a non business combination transaction? |
I am using your study notes and I know of at least 5 other friends of mine who used it and passed the exam last Dec. Keep up your great work!
Barnes
Learning Outcome Statements
compare the financial reporting of the following types of intangible assets: purchased, internally developed, and acquired in a business combination
CFA® 2024 Level I Curriculum, Volume 2, Module 7.