bhhasskar borggohain (student) (150 Points)
16 June 2011sir as per AS-26
where do we present the intangible assets in Balance sheet.
whether the Carrying amount of Intangibles and their amortized amount is to be shown in FA schedule under a separate section"intangible assets" or in the Balance sheet itself as "intangible assets in the assets side after FA , showing therein itself the Gross Value of intangibe , amount amortised and net intangibles.
also whether Software is an intangible asset or a Fixed Asset.
Shruthi
(PCC Student)
(111 Points)
Replied 17 June 2011
You show the Intangible Assets under FA Schedule at gross carrying amount and show the accumulated amortized amount along with impairment loss as like how you will show the accumulated depreciation.
And software is purely intangible asset irrespective of the fact whether it is internally generated or acquired..
CS,CA F,Numrologi TusharSampat
(CS CA F Numerologist Astrologer Graphologist Face reader Vastu Expert)
(85930 Points)
Replied 17 June 2011
| Originally posted by : Shruthi | ||
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You show the Intangible Assets under FA Schedule at gross carrying amount and show the accumulated amortized amount along with impairment loss as like how you will show the accumulated depreciation. And software is purely intangible asset irrespective of the fact whether it is internally generated or acquired.. |
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AGREED.
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