AKM I.10. Aset Tidak Berwujud

Summary

This video discusses the concept of intangible assets in financial accounting, focusing on their definition, types, and accounting treatment. It covers assets such as trademarks, copyrights, patents, customer-related assets, goodwill, and more. The script explains how intangible assets are evaluated, including acquisition costs, research and development stages, and amortization methods for assets with limited useful life. Additionally, the treatment of impairment and goodwill, especially in cases of business acquisitions, is explored. The video emphasizes the importance of proper classification and reporting of intangible assets in financial statements.

Takeaways

• 😀 Intangible assets are non-physical assets that can be identified but do not have a physical form. They are classified as non-current assets in the financial statement.
• 😀 Types of intangible assets include marketing-related assets, customer-related assets, artistic value assets, technology-related assets, contracts, and goodwill.
• 😀 The valuation of purchased intangible assets includes the acquisition price, which encompasses all expenses incurred up to the point where the asset is ready for use.
• 😀 Internally generated intangible assets (like software, patents, copyrights, and trademarks) have costs that must be carefully classified into research and development stages.
• 😀 Research costs are expensed, while certain development costs can be capitalized when economic feasibility is established.
• 😀 Intangible assets with a limited useful life must be amortized systematically over their useful life, with amortization costs reflecting the pattern of usage.
• 😀 Intangible assets with an unlimited useful life (such as goodwill) are not amortized but must undergo annual impairment testing.
• 😀 Intangible assets related to marketing (e.g., trademarks) do not require amortization as their value is expected to continue indefinitely as long as they are used.
• 😀 Customer-related intangible assets, such as customer lists, are amortized over their limited useful life and should be capitalized when purchased.
• 😀 Artistic value intangible assets, like copyrights, are amortized over their useful life, and the costs related to their acquisition and maintenance are capitalized.
• 😀 Goodwill, which arises during business combinations, represents future economic benefits and should not be amortized but adjusted for impairment annually if necessary.

Q & A

What are intangible assets and how are they classified in financial accounting?

Intangible assets are assets that have specific characteristics: they can be identified but do not have a physical form and are not typically monetary. They are classified as non-current assets in the financial position statement.

What are the different types of intangible assets?

The main types of intangible assets include assets related to marketing (like trademarks), assets related to customers (like customer lists), artistic value (like copyrights), contracts (like franchises and licenses), technology (like patents), and goodwill.

How is the acquisition price of an intangible asset determined?

The acquisition price of an intangible asset includes the purchase price and any associated costs, such as legal fees, taxes, and other unexpected costs, up until the asset is ready for use.

What is the distinction between research and development costs in intangible assets?

Costs incurred during the research stage of an intangible asset must be expensed, while costs incurred in the development stage can be capitalized if certain economic feasibility criteria are met.

How should costs during the research stage be treated?

All costs that occur during the research stage must be treated as expenses and cannot be capitalized.

What is the process of amortizing intangible assets with a limited useful life?

Intangible assets with a limited useful life must be amortized by systematically allocating the amortization costs over their useful life. The amortization pattern must reflect how the company uses or consumes the intangible assets.

How is impairment of intangible assets handled?

Impairment of intangible assets occurs when the carrying value of the asset exceeds its recoverable amount. Assets with limited useful lives are tested for impairment based on the higher of fair value less costs to sell or value in use. For intangible assets with unlimited useful lives, like goodwill, impairment testing is done annually or whenever there's an indication of impairment.

What is the accounting treatment for goodwill in business acquisitions?

Goodwill arises when a company acquires another company, and it represents the excess of the purchase price over the fair value of the net assets acquired. Goodwill has an unlimited useful life and is not amortized but is tested annually for impairment.

How is the impairment of goodwill tested?

Impairment of goodwill is tested annually and based on the cash-generating unit (CGU) to which the goodwill relates. The impairment loss is determined by comparing the carrying value of the CGU with its recoverable amount.

How are intangible assets presented in the financial statement?

Intangible assets are reported separately in the financial position statement, excluding goodwill, and are not shown with contra accounts like accumulated amortization. Impairment losses and amortization expenses are disclosed in the income statement.