ASET TETAP TIDAK BERWUJUD (INTANGIBLE ASSETS)

Summary

This educational video explains the concept of intangible assets, or fixed assets that don't have a physical form but hold value for a company. It covers key characteristics and examples such as goodwill, patents, copyrights, trademarks, and franchises. The video also demonstrates how to determine the acquisition cost of intangible assets and how to record them in accounting entries, including the process of amortization. Practical examples are provided to clarify the calculations and procedures involved in handling intangible assets in business transactions and financial accounting.

Takeaways

• 😀 Intangible assets are assets that don't have a physical form but still provide value to a company, with an economic lifespan longer than one year.
• 😀 Intangible assets can be acquired from external parties or within the company itself.
• 😀 Key characteristics of intangible assets include providing exclusive rights, contributing to normal business activities, and having a useful life extending over more than one accounting period.
• 😀 The five main types of intangible assets are goodwill, patents, copyrights, trademarks, and franchises.
• 😀 Goodwill represents the extra value a company holds due to factors like location, reputation, or skilled management.
• 😀 Patents are exclusive rights granted to individuals or entities by the government, allowing them to exploit an invention.
• 😀 Copyrights are legal rights allowing creators to control reproduction and sale of their artistic or intellectual works.
• 😀 Trademarks are exclusive rights given to businesses for using a brand, name, or logo to identify their products.
• 😀 Franchises are legal rights obtained by a company from another to commercialize certain products or services, such as in McDonald's or KFC.
• 😀 The acquisition cost of intangible assets includes purchase price, import duties, and related costs necessary for making the asset ready for use.
• 😀 Amortization of intangible assets follows a straight-line method, where the asset's cost is divided by its useful life, and regular amortization entries are made.

Q & A

What are intangible assets, and how are they defined?

Intangible assets are assets that do not have a physical form but hold value for a company. They have an economic lifespan of more than one year and can include various intellectual property rights.

What are the key characteristics of intangible assets?

The key characteristics of intangible assets include: 1) They are obtained from another party or internally generated, 2) They grant exclusive rights to the company, 3) They provide benefits and are used in normal business operations, 4) They have a relatively permanent useful life of more than one accounting period.

What are the five types of intangible assets mentioned in the video?

The five types of intangible assets are: 1) Goodwill, 2) Patents, 3) Copyrights, 4) Trademarks, and 5) Franchises.

How is goodwill defined in the context of intangible assets?

Goodwill refers to the added value a company possesses due to factors like a good reputation, strategic location, or effective management. It reflects the overall value of the business beyond its tangible assets.

What is a patent, and how is it classified as an intangible asset?

A patent is an exclusive right granted by the government to an individual or company, allowing them to use or commercialize a particular invention. It is considered an intangible asset because it has value but no physical form.

What is the role of copyright in intangible assets?

Copyright is an exclusive right granted to the creator of a work, such as a book, song, or painting, allowing them to reproduce and distribute their work. It is classified as an intangible asset because it grants a legal right without a physical entity.

How does a trademark function as an intangible asset?

A trademark is a unique symbol, name, or logo that represents a company's products or services. It provides a legal right to the company to use that mark in the marketplace, thus making it an intangible asset.

What are franchises, and how are they treated as intangible assets?

Franchises refer to the rights granted by one company to another to operate using their brand, processes, or products. These rights can be considered intangible assets as they provide value and have legal protection.

What is the method used to determine the acquisition cost of intangible assets?

The acquisition cost of intangible assets is determined by adding the purchase price, including customs duties and non-refundable taxes, along with any additional costs directly related to preparing the asset for use.

How is amortization applied to intangible assets, and what method is used?

Amortization is the process of expensing the cost of intangible assets over their useful life. The straight-line method is typically used, where the cost is divided equally over the asset's useful life, with no residual value in most cases.