Accounting Intangible Assets Assignment Help
In this online assignment help, you will get the answer of this question Why is the reporting of intangible assets often challenging for accountants.
Challenges of Intangible Assets Reporting
Intangible assets may be defined as the identifiable non monetary assets that cannot be seen, touched or physically measured, which is created through time and effort by the business organization. Intangible assets are also known as identifiable separate asset. For instance, goodwill, copyrights, patents and trademarks are the important examples of intangible assets. Reporting of intangible assets is a very challenging task for the accountants & arises due to lack of market data, combination of assets & unbundles and value to individual assets.
In today’s corporate business environment, reporting of intangible assets is a complex & challenging task, because intangible assets are not included either in internal & external financial information or published financial statements. Business requires an extensive analysis to detect, recognize and measure the acquired tangible and intangible assets and liabilities at fair value. This is a particular challenge for the accountant in the case of intangible assets, because intangible assets are by nature less detectible than tangible items. It should also be noted down that; intangible asset is a speculative notion. Intangible assets are different & complex from tangible assets in term of calculation, not just because they lack physical appearance, but also because they are not identifiable. In addition our Australian assignment help experts says that, the accountant cannot estimate or evaluate the fair value of intangible assets from the market price. So, actual estimation of intangible assets is not possible.
Basically our online my assignment writing help write that, intangible assets deal with the concept of “using assets jointly”. Several intangible assets are not stand-alone assets that can be valued on a balance sheet independently of other assets; rather, their value comes from producing cash flow streams jointly with other assets. In addition, intangible assets may not generate the cash flows. On the other hand, the accountant cannot measure the real cost of intangible assets reliably, because it is too difficult to identify that which specific asset the expenditure has contributed to create. As per the accounting standard, to estimate the rate of return or productivity of the investment in intangibilities is also a very difficult task for the accountants. It means the accountant cannot evaluate the actual & real value of firm’s intangible capital in term of total assets. Detecting intangible assets can be a complex and challenging matter to accountants. Strategies to detect identifiable intangible assets depend on the facts and circumstances of the business combination and usually require a full review of the transaction. We provide the best and original business management assignment help services in Australia.
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