版权说明:本文档由用户提供并上传,收益归属内容提供方,若内容存在侵权,请进行举报或认领
文档简介
CHAPTER12
IntangibleAssets
ASSIGNMENTCLASSIFICATIONTABLE(BYTOPIC)
BriefConcepts
TopicsQuestionsExercisesExercisesProblemsforAnalysis
123
1.Intangibleassets;1,2,3,4,5,6,
concepts,definitions;7,8,9,10,11,
itemscomprising12,13,14,26,
intangibleassets.27,29
L23412312
2.Patents;franchise;9,10,13,14,‘,6
乙12-734
organizationcosts;25,27,29‘
tradename.
6856
3.Goodwill.12,13,14,18‘
5,乙
86
4.Impairmentof15,16,17,
intangibles.18,26,29
12345
5.Researchand19,20,21,
developmentcosts22,23,24
andsimilarcosts.
4
*6.Computersoftware30,31,32
costs.
*ThismaterialiscoveredinanAppendixtothechapter.
ASSIGNMENTCLASSIFICATIONTABLE(BYLEARNINGOBJECTIVE)
Brief
LearningObjectivesExercisesExercisesProblems
1.Describethecharacteristicsofintangibleassets.1.2,3
2.Identifythecoststoincludeintheinitialvaluation1,2,3,5,7,9,1,2,3,6
ofintangibleassets.4,510,11
3.Explaintheprocedureforamortizingintangible1,2,3,4,4,5,6,7,9,1,2,3,6
assets.12,1310,11,13
4.Describethetypesofintangibleassets.1,2,3
5.Explaintheconceptualissuesrelatedtogoodwill.12,13
6.Describetheaccountingproceduresforrecording512,13,155,6
goodwill.
7.Explaintheaccountingissuesrelatedtointangible6,7,8,914,155,6
assetimpairments.
8.Identifytheconceptualissuesrelatedtoresearch5,9
anddevelopmentcosts.
9.Describetheaccountingforresearchand9,10,11,126,8,16,174
developmentandsimilarcosts.
10.Indicatethepresentationofintangibleassets134,6
andrelateditems.
*11.Understandtheaccountingtreatmentforcomputer1418,19
softwarecosts.
*ThismaterialiscoveredinanAppendixtothechapter.
12-2Copyright©2010JohnWiley&Sons,Inc.Kieso,IntermediateAccounting,13/e,SolutionsManual(ForInstructorIlseOnly)
ASSIGNMENTCHARACTERISTICSTABLE
LevelofTime
ItemDescriptionDifficulty(minutes)
E12-1Classificationissues-intangibles.Moderate15-20
E12-2Classificationissues-intangibles.Simple10-15
E12-3Classificationissues-intangibleasset.Moderate10-15
E12-4Intangibleamortization.Moderate15-20
E12-5Correctintangibleassetaccount.Moderate15-20
E12-6Recordingandamortizationofintangibles.Simple15-20
E12-7Accountingfortradename.Simple10-15
E12-8Accountingfororganizationcosts.Simple10-15
E12-9Accountingforpatents,franchises,andR&D.Moderate15-20
E12-10Accountingforpatents.Moderate20-25
E12-11Accountingforpatents.Moderate15-20
E12-12Accountingforgoodwill.Moderate20-25
E12-13Accountingforgoodwill.Simple10-15
E12-14Copyrightimpairment.Simple15-20
E12-15Goodwillimpairment.Simple15-20
E12-16AccountingforR&Dcosts.Moderate15-20
E12-17AccountingforR&Dcosts.Moderate10-15
*E12-18Accountingforcomputersoftwarecosts.Moderate10-15
*E12-19Accountingforcomputersoftwarecosts.Moderate15-20
P12-1Correctintangibleassetaccount.Moderate15-20
P12-2Accountingforpatents.Moderate20-30
P12-3Accountingforfranchise,patents,andtradename.Moderate20-30
P12-4AccountingforR&Dcosts.Moderate15-20
P12-5Goodwill,impairment.Complex25-30
P12-6Comprehensiveintangibleassets.Moderate30-35
CA12-1Accountingforpollutionexpenditure.Moderate25-30
CA12-2Accountingforpre-openingcosts.Moderate20-25
CA12-3Accountingforpatents.Moderate25-30
CA12-4Accountingforresearchanddevelopmentcosts.Moderate25-30
CA12-5Accountingforresearchanddevelopmentcosts.Moderate20-25
ANSWERSTOQUESTIONS
1.Thetwomaincharacteristicsofintangibleassetsare:
(a)theylackphysicalsubstance.
(b)theyarenotafinancialinstrument.
2.Ifintangiblesareacquiredforstock,thecostoftheintangibleisthefairvalueoftheconsideration
givenorthefairvalueoftheconsiderationreceived,whicheverismoreclearlyevident.
3.Limited-lifeintangiblesshouldbeamortizedbysystematicchargestoexpenseovertheirusefullife.An
intangibleassetwithanindefinitelifeisnotamortized.
4.Whenintangiblesarecreatedinternally,itisoftendifficulttodeterminethevalidityofanyfuture
servicepotential.Topermitdeferralofthesetypesofcostswouldleadtoagreatdealofsubject-tivity
becausemanagementcouldarguethatalmostanyexpensecouldbecapitalizedonthebasisthatit
willincreasefuturebenefits.Thecostofpurchasedintangibles,however,iscapitalizedbecauseits
costcanbeobjectivelyverifiedandreflectsitsfairvalueatthedateofacquisition.
5.Companiescannotcapitalizeself-developed,self-maintained,orself-createdgoodwill.Theseexpen
ditureswouldmostlikelybereportedassellingexpenses.
6.Factorstobeconsideredindeterminingusefullifeare:
(a)Theexpecteduseoftheassetbytheentity.
(b)Theexpectedusefullifeofanotherassetoragroupofassetstowhichtheusefullifeofthe
intangibleassetmayrelate.
(c)Anylegal,regulatory,orcontractualprovisionsthatmaylimitusefullife.
(d)Anylegal,regulatoryorcontractualprovisionsthatenablerenewalorextensionoftheasset's
legalorcontractuallifewithoutsubstantialcost.
(e)Theeffectsofobsolescence,demand,competition,andothereconomicfactors.
(f)Thelevelofmaintenanceexpenditurerequiredtoobtaintheexpectedfuturecashflowsfromthe
asset.
7.Theamountofamortizationexpensedforalimited-lifeintangibleassetshouldreflectthepatternin
whichtheassetisconsumedorusedup,ifthatpatterncanbereliablydetermined.Ifthepatternof
productionorconsumptioncannotbedetermined,thestraight-linemethodofamortizationshouldbe
used.
8.Thistrademarkisanindefinitelifeintangibleand,therefore,shouldnotbeamortized.
9.The$190,000shouldbeexpensedasresearchanddevelopmentexpensein2010.The$91,000is
expensedassellingandpromotionexpensein2010.The$45,000ofcoststolegallyobtainthepatent
shouldbecapitalizedandamortizedovertheusefulorlegallifeofthepatent,whicheverisshorter.
10.PatentAmortizationExpense..............................................................35,000
Patents(orAccumulatedPatentAmortization)...........................35,000
Straight-lineamortizationisusedbecausethepatternofusecannotbereliablydetermined.
11.Artistic-relatedintangibleassetsinvolveownershiprightstoplays,pictures,photographs,andvideo
andaudiovisualmaterial.Theseownershiprightsareprotectedbycopyrights.Contractrelated
intangibleassetsrepresentthevalueofrightsthatarisefromcontractualarrangements.Examplesare
franchiseandlicensingagreements,constructionpermits,broadcastrights,andserviceorsupply
contracts.
12-4Copyright©2010JohnWiley&Sons,Inc.Kieso,IntermediateAccounting,13/e,SolutionsManual(ForInstructorIlseOnly)
QuestionsChapter12(Continued)
12.Varyingapproachesareusedtodefinegoodwill.Theyare
(a)Goodwillshouldbemeasuredinitiallyastheexcessofthefairvalueoftheacquisitioncostover
thefairvalueofthenetassetsacquired.Thisdefinitionisameasurementdefinitionbutdoesnot
conceptuallydefinegoodwill.
(b)Goodwillissometimesdefinedasoneormoreunidentifiedintangibleassetsandidentifiable
intangibleassetsthatarenotreliablymeasurable.Examplesofelementsofgoodwillincludenew
channelsofdistribution,synergiesofcombiningsalesforces,andasuperiormanagementteam.
(c)Goodwillmayalsobedefinedastheintrinsicvaluethatabusinesshasacquiredbeyondthemere
valueofitsnetassetswhetherduetothepersonalityofthoseconductingit,thenatureofits
location,itsreputation,oranyothercircumstanceincidentaltothebusinessandtendingtomake
itpermanent.Anotherdefinitionisthecapitalizedvalueoftheexcessofestimatedfutureprofitsof
abusinessovertherateofreturnoncapitalconsiderednormalintheindustry.
Negativegoodwilldevelopswhenthefairvalueoftheassetspurchasedishigherthanthecost.This
situationmaydevelopfromamarketimperfection.Inthiscase,thesellerwouldhavebeenbetteroffto
selltheassetsindividuallythanintotal.However,situationsdooccur(e.g.,aforcedliquidationor
distressedsaleduetothedeathofthecompanyfounder),inwhichthepurchasepriceislessthanthe
valueoftheidentifiablenetassets.
13.Goodwillisrecordedonlywhenitisacquiredbypurchase.Goodwillacquiredinabusiness
combinationisconsideredtohaveanindefinitelifeandthereforeshouldnotbeamortized,butshould
betestedforimpairmentonatleastanannualbasis.
14.Manyanalystsbelievethatthevalueofgoodwillissosubjectivethatitshouldnotbegiventhesame
statusasothertypesofassetssuchascash,receivables,inventory,etc.Theanalystsaresimply
statingthattheybelievethatpresentationofgoodw川onthebalancesheetdoesnotprovideany
usefulinformationtotheusersoffinancialstatements.Whetherthisistrueornotisadifficultpointto
prove,butitshouldbenotedthatitappearscontradictorytopayforthegoodwillandthenimmediately
writeitoff,denyingthatithasanyvalue.
15.Accountingstandardsrequirethatifeventsorchangesincircumstancesindicatethatthecarrying
amountofsuchassetsmaynotberecoverable,thenthecarryingamountoftheassetshouldbe
assessed.Theassessmentorreviewtakestheformofarecoverabilitytestthatcomparesthesumof
theexpectedfuturecashflowsfromtheasset(undiscounted)tothecarryingamount.Ifthecashflows
arelessthanthecarryingamount,theassethasbeenimpaired.Theimpairmentlossismeasuredas
theamountbywhichthecarryingamountexceedsthefairvalueoftheasset.Thefairvalueofassets
ismeasuredbytheirfairvalueifanactivemarketforthemexists.Ifnomarketpriceisavailable,the
presentvalueoftheexpectedfuturenetcashflowsfromtheassetmaybeused.
16.UnderU.S.GAAP,impairmentlossesonassetsheldforusemaynotberestored.
17.Impairmentlossesarereportedaspartofincomefromcontinuingoperations,generallyinthe“Other
expensesandlosses"section.Impairmentlosses(andrecoveryoflossesforassetstobedisposedof)
aresimilartoothercoststhatwouldflowthroughoperations.Thus,gains(recoveriesoflosses)on
assetstobedisposedofshouldbereportedaspartofincomefromcontinuingoperations.
18.Theamountofgoodwillimpairedis$40,000,computedasfollows:
Recordedgoodwill...................................................$400,000
Impliedgoodwill.......................................................360,000
Impairedgoodwill.....................................................$40.000
QuestionsChapter12(Continued)
19.Researchanddevelopmentcostsareincurredtodevelopnewproductsorprocesses,toimprove
presentproducts,ortodiscovernewknowledge.R&Dexpenditurespresentproblemsof(1)identifying
thecostsassociatedwithparticularactivities,projects,orachievements,and(2)determiningthe
magnitudeofthefuturebenefitsandthelengthoftimeoverwhichsuchbenefitsmayberealized.R&D
activitiesmayincurcostsclassifiedasfollows:
(a)materials,equipment,andfacilities,
(b)personnel,
(c)purchasedintangibles,
(d)contractservices,and
(e)indirectcosts.
20.(a)Personnel(labor)typecostsincurredinR&Dactivitiesshouldbeexpensedasincurred.
(b)Materialsandequipmentcostsshouldbeexpensedimmediatelyunlesstheitemshavealternative
futureuses.Iftheitemshavealternativefutureuses,thematerialsshouldberecordedas
inventoriesandallocatedasconsumedandtheequipmentshouldbecapitalizedanddepreciated
asused.
(c)IndirectcostsofR&DactivitiesshouldbereasonablyallocatedtoR&D(exceptforgeneraland
administrativecosts,whichmustbeclearlyrelatedtobeincluded)andexpensed.
21.SeeIllustration12-14.
_____________TypeofExpenditure__________AccountinaTreatment
1.Constructionoflong-rangeresearchfacilityCapitalizeanddepreciateasR&Dexpense
foruseincurrentandfutureprojects(three-
story,400,000-square-footbuilding).
2.AcquisitionofR&DequipmentforuseonExpenseimmediatelyasR&D.
currentprojectonly.
3.AcquisitionofmachineryforuseoncurrentCapitalizeanddepreciateasR&Dexpense.
andfutureR&Dprojects.
4.PurchaseofmaterialsforuseoncurrentInventoryandallocatetoR&Dprojects;
andfutureR&Dprojects.expenseasconsumed.
5.SalariesofresearchstaffdesigningnewExpenseimmediatelyasR&D.
laserbonescanner.
6.ResearchcostsincurredundercontractwithRecordasareceivable(reimbursable
NewHorizon,Inc.,andbillablemonthly.expenses).
7.Material,labor,andoverheadcostsofExpenseimmediatelyasR&D.
prototypelaserscanner.
8.CostsoftestingprototypeanddesignExpenseimmediatelyasR&D.
modifications.
9.LegalfeestoobtainpatentonnewlaserCapitalizeaspatentandamortizeto
scanner.overheadaspartofcostofgoods
manufactured.
10.Executivesalaries.Expenseasoperatingexpense(general
andadministrative).
11.CostofmarketingresearchtopromotenewExpenseasoperatingexpense(selling).
laserscanner.
12.EngineeringcostsincurredtoadvancetheExpenseimmediatelyasR&D.
laserscannertofullproductionstage.
13.CostsofsuccessfullydefendingpatentonCapitalizeaspatentandamortizetoover
laserscanner.headaspartofcostofgoodsmanufactured.
14.CommissionstosalesstaffmarketingnewExpenseasoperatingexpense(selling).
laserscanner.
(a)ExpenseasR&D.
(b)ExpenseasR&D.
(c)Capitalizeaspatentand/orlicenseandamortize.
12-6Copyright©2010JohnWiley&Sons,Inc.Kieso,IntermediateAccounting,13/e,SolutionsManual(ForInstructorIlseOnly)
QuestionsChapter12(Continued)
22.Eachoftheseitemsshouldbechargedtocurrentoperations.Advertisingcostshavesomeminor
exceptionstothisgeneralrule.However,thespecificaccountingisbeyondthescopeofthistextbook.
23.$585,000($400,000+$60,000+$125,000).
24.Thesecostsarereferredtoasstart-upcosts,ormorespecificallyorganizationalcostsinthiscase.
Theaccountingforstartupcostsisstraightforward—expensethesecostsasincurred.Theprofession
recognizesthatthesecostsareincurredwiththeexpectationthatfuturerevenueswilloccuror
increasedefficienciesw川result.However,todeterminetheamountandtimingoffuturebenefitsisso
difficultthataconservativeapproach—expensingthesecostsasincurred——isrequired.
25.Thetotallife,perrevisedfacts,is40years(10+30).Thereare30(40-10)remainingyearsfor
$540,000
amortizationpurposes.Originalamortization:-------------=$18,000peryear;$18,000X10years
30
expired=$180,000accumulatedamortization.
$540,000originalcost
-180,000accumulatedamortization
$360,000remainingcosttoamortize
$360,000+30years=$12,000amortizationfor2010andyearsthereafter.
26.iGAAPrelatedtointangibleassetsispresentedinIAS38,"IntangibleAssets.iGAAPrelatedto
impairmentsisfoundinIAS36,impairmentofAssets”.
27.Similaritiesinclude(1)inU.S.GAAPandiGAAP,thecostsassociatedwithresearchand
developmentaresegregatedintothetwocomponents;(2)iGAAPandU.S.GAAParesimilarfor
intangiblesacquiredinabusinesscombination.Thatis,anintangibleassetisrecognizedseparately
fromgoodwillifitrepresentscontractualorlegalrightsoriscapableofbeingseparatedordividedand
sold,transferred,licensed,rentedorexchanged;(3)UnderbothGAAPs,limitedlifeintangiblesare
subjecttoamortization,butgoodwillandindefinitelifeintangiblesarenotamortized;rathertheyare
assessedforimpairmentonanannualbasis;(4)iGAAPandU.S.GAAParesimilarintheaccounting
forimpairmentsofassetsheldfordisposal.
Notabledifferencesare:(1)whilecostsintheresearchphasearealwaysexpensedunderboth
iGAAPandU.S.GAAP,underiGAAPcostsinthedevelopmentphasearecapitalizedonce
technologicalfeasibilityisachieved;(2)iGAAPpermitssomecapitalizationofinternallygenerated
intangibleassets(e.g.,brandvalue),ifitisprobabletherewillbeafuturebenefitandtheamountcan
bereliablymeasured.U.S.GAAPrequiresexpensingofallcostsassociatedwithinternallygenerated
intangibles;(3)iGAAPrequiresanimpairmenttestateachreportingdateforlong-livedassetsand
intangiblesandrecordsanimpairmentiftheassetscarryingamountexceedsitsrecoverableamount;
therecoverableamountisthehigheroftheasset'sfairvaluelesscoststosellanditsvalueinuse.
Valueinuseisthefuturecashflowstobederivedfromtheparticularasset,discountedtopresent
value.UnderU.S.GAAP,impairmentlossismeasuredastheexcessofthecarryingamountoverthe
asset'sfairvalue;(4)iGAAPallowsreversalofimpairmentlosseswhentherehasbeenachangein
economicconditionsorintheexpecteduseoftheasset.UnderU.S.GAAP,impairmentlossescannot
bereversedforassetstobeheldandused;theimpairmentlossresultsinanewcostbasisforthe
asset;(5)underiGAAP,acquiredin-processresearchanddevelopment(IPR&D)isrecognizedasa
separateintangibleassetifitmeetsthedefinitionofanintangibleassetanditsfairvaluecanbe
measuredreliably.U.S.requiresacquiredIPR&Dtobewrittenoff.
QuestionsChapter12(Continued)
28.Asshownintheanalysisbelow,underiGAAP,Sophia'sROAisoverstatedcomparedtoaU.S.GAAP
company.
iGAAPU.S.GAAP
IncomeU1,125U920*
Assets12,50012,295**
ROA(Income+Assets)9%7.5%
*(U1,125+U120-U325)
*"(U12,500+U120-L825)
29.TheIASBandFASBhaveidentifiedaprojectrelatingtotheaccountingforresearchanddevelopment
thatcouldpossiblyconvergeiGAAPandU.S.GAAPontheissueofin-processR&D,Onepossibilityis
toamendU.S.GAAPtoallowcapitalizationofin-processR&DsimilartotheprovisionsiniGAAP.A
secondproject,inaverypreliminarystage,wouldconsiderexpandedrecognitionofinternally
generatedintangibleassets.Asindicated,iGAAPpermitsmorerecognitionofintangiblescomparedto
U.S.GAAP.Thus,itwillbechallengingtodevelopconvergedstandardsforintangibleassets,given
thelong-standingprohibitiononcapitalizingintangibleassetsandresearchanddevelopmentinU.S.
GAAP.LearnmoreaboutthetimelinefortheintangibleassetprojectattheIASBweb-site:
/Current+Projects/IASB+Work+Plan.htm
*30.Theprofession'spositionisthatcostsincurredinternallyincreatingacomputersoftwareproducttobe
soldshouldbechargedtoexpensewhenincurredasresearchanddevelopmentuntiltechnological
feasibilityhasbeenestablishedfortheproduct.Technologicalfeasibilityisestablishedupon
completionofadetailedprogramdesignor,initsabsence,completionofaworkingmodel.Thereafter,
allsoftwarecostsshouldbecapitalizedandsubsequentlyreportedatthelowerofunamortizedcostor
netrealizablevalue.Capitalizedcostsareamortizedbasedoncurrentandfuturerevenueforeach
productwithanannualminimumequaltostraight-lineamortizationovertheremainingestimated
economiclifeoftheproduct.
($2,000,000、
*31.Underthepercentofrevenueapproach,$900,000$4,500,000X---------------------------------wouldbe
V$2,000,000+$8,000,000?
reported;underthestraight-lineapproach,$1,125,000wouldbereported.Becausethestraight-line
approachishigher,$1,125,000shouldbereportedasR&Dexpenseforthisproduct.
*32.Expensingthedevelopmentcostinthecurrentyearisappropriatewhenthecostsareclassifiedas
researchanddevelopmentcostsandthecomputersoftwareistobesold,leased,ormarketedtothird
parties.
Capitalizingthedevelopmentcostofthesoftwarepackageoveritsestimatedusefullifeisappropriate
ifthecostsaresubsequenttoachievingtechnologicalfeasibilityandfuturebenefitsarereasonably
certain.
Stakeholders(usersoffinancialstatementsorpartiesaffectedbyfinancialstatements)maybe
harmedwheneverexpensesandrevenuesaremismatched.Inappropriaterecognitionofdevelopment
costscanharmallpartiesinvolvedduetoanyunderstatementandoverstatementofincome.
12-8Copyright©2010JohnWiley&Sons,Inc.Kieso,IntermediateAccounting,13/e,SolutionsManual(ForInstructorIlseOnly)
SOLUTIONSTOBRIEFEXERCISES
BRIEFEXERCISE12-1
Patents...........................................................................54,000
Cash......................................................................54,000
PatentAmortizationExpense....................................5,400
Patents($54,000X1/10=$5,400)....................5,400
BRIEFEXERCISE12-2
Patents...........................................................................24,000
Cash......................................................................24,000
PatentAmortizationExpense....................................8,400
Patents[($43,200+$24,000)X1/8=$8,400]…“8,400
BRIEFEXERCISE12-3
TradeName....................................................................68,000
Cash................
温馨提示
- 1. 本站所有资源如无特殊说明,都需要本地电脑安装OFFICE2007和PDF阅读器。图纸软件为CAD,CAXA,PROE,UG,SolidWorks等.压缩文件请下载最新的WinRAR软件解压。
- 2. 本站的文档不包含任何第三方提供的附件图纸等,如果需要附件,请联系上传者。文件的所有权益归上传用户所有。
- 3. 本站RAR压缩包中若带图纸,网页内容里面会有图纸预览,若没有图纸预览就没有图纸。
- 4. 未经权益所有人同意不得将文件中的内容挪作商业或盈利用途。
- 5. 人人文库网仅提供信息存储空间,仅对用户上传内容的表现方式做保护处理,对用户上传分享的文档内容本身不做任何修改或编辑,并不能对任何下载内容负责。
- 6. 下载文件中如有侵权或不适当内容,请与我们联系,我们立即纠正。
- 7. 本站不保证下载资源的准确性、安全性和完整性, 同时也不承担用户因使用这些下载资源对自己和他人造成任何形式的伤害或损失。
最新文档
- 2024年幼儿园大班舞蹈活动圆圈舞公开课精彩教案
- 2024年幼儿园小班美术精彩教案《美丽的大海》
- 2024年关于幼儿园美术教案
- 2024年小班数学公开课《有趣的排序》课件
- 三亚2024年海南三亚市公立医院招聘189人 笔试历年典型考题寄考点剖析含答案附详解
- 2024年《科学探究》课件
- 中卫2024年宁夏中卫市新闻传媒中心自主招聘 笔试历年典型考题寄考点剖析含答案附详解
- 三明2024年福建三明市泰宁县紧缺急需专业部分学科教师招聘 笔试历年典型考题寄考点剖析含答案附详解
- 中班美术活动《盲女》教案2
- 中国传统文化-皮影戏
- 机械原理课程设计-高位自卸汽车的设计
- GB∕T 2072-2020 镍及镍合金带、箔材
- (精心整理)中考长难句翻译
- (完整word版)游褒禅山记教学设计优质课一等奖
- 《外科补液原则》word版
- 基本公共卫生服务经费管理与使用规范
- 全课程二年级数学创意暑假作业
- 欠费核销明细申请表
- 酒厥(酒精中毒所致精神障碍和行为障碍)中医临床路径(2018)7
- 形成体育后进生的原因及转化策略
- 相位表相量图分析三相四线错误接线方法与步骤图解
评论
0/150
提交评论