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The value of separable intangibles

Article Abstract:

The Accounting Standards Committee (ASC) will need to consider several points in developing a standard accounting treatment of separable intangibles such as trademarks, publishing rights and brand names. The ASC will need to resolve the conflict that capitalization of non-purchased intangibles is inconsistent with the spirit of the Statement of Standard Accounting Practice 22 (SSAP 22), because not capitalizing them reduces the value of corporate reports. Additionally, the requirement to amortize or eliminate intangible assets that are capitalized under SSAP 22 and are still increasing in value will need to be examined, and the ASC should develop an accounting standard based on the fair value discussion paper to clarify their position on separately identifying separable intangibles.

Trademarks, Intangible property, Intangible assets

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Off balance sheet finance: practical guide

Article Abstract:

The UK Accounting Standards Committee published Exposure Draft (ED) 49, Reflecting the Substance of Transactions in Assets and Liabilities, in May 1990, as a response to problems encountered in off balance sheet finance. ED 49 establishes that the International Accounting Standards Committee's (IASC) framework will be used as a benchmark against which proposals will be measured, thus recognizing the IASC's definitions of assets and liabilities. In addition, ED 49 contains guidance on the recognition of assets, and contains application notes on how to apply the statement's principles to specific cases, including consignment stock, sale and purchase agreements, and factoring of debts.

Financial statements

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Proposed statement of standard accounting practice - exposure draft 49: reflecting the substance of transactions in assets and liabilities: May 1990

Article Abstract:

The Accounting Standards Committee of CCAB Limited's Exposure Draft 49: Proposed Statement of Standard Accounting Practice: Reflecting the Substance of Transactions in Assets and Liabilities, issued May 1990, is presented.

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