Under both standards, Accounting Standards Codification (ASC) Topic 350, Intangibles — Goodwill and Other, and International Accounting Standard (IAS) 38, Intangible Assets, intangible assets are defined as non-monetary assets without a physical substance.

As there is no physical existence for these kinds of assets, the criteria to differentiate between intangible assets and other expenses or goodwill is the one of the most critical topics under both standards.

This course focuses on the criteria contained in IAS 38, from paragraph 8 to paragraph 17.

This course simplifies the concepts of IAS 38 by discussing practical cases that are commonly faced by accountants in their day-to-day work.

This course helps the audience easily differentiate between intangible assets and other expenses or other kinds of assets by analyzing the two conditions of intangible assets, which is explained in this course.

Course Key Concepts:
IAS 38, Intangible assets, International Accounting Standards, goodwill, separable, contractual, identifiable, controllable, copyright, patents, customer loyalty, franchises, computer software, skilled staff, Motion picture films, customer lists, mortgage services rights, fishing licenses, import quotas, customer or supplier relationships, market share and marketing rights.