PRESENTED BY

SANDEEP GORE-14
PRASAD PARADKAR-39
The standard defines an intangible asset as an
identifiable “non-monetary asset, without
physical substances, held for use in the
production or supply of goods or services, for
rental to others, or for administrative
purposes”
 Prescribing accounting treatment for intangible assets.

 Prescribing criteria for recognition of assets in the

books of accounts.

 To measure the amount at which the tangible assets

should be recorded in the books.

 Amortisation methods for intangible assets.

 Disclosure about and intangible assets in financial

statements of the enterprises.
 It is probable that the future economic benefit
that are attributable to the assets will flow to
the enterprise, and

 The cost of the asset can be measured reliably.

 An intangible asset is disposed
OR
 No future economic benefits are expected from
the use of intangible asset.
 The useful lives or the amortization rates
used;

 The amortization method used;

 The gross carrying amount and the
accumulated amortization at the beginning and
end of the period;

 A reconciliation of the carrying amount at the

beginning and end of the period.