the following is a list of items that could be included in the intangible assets sec 4375585

The following is a list of items that could be included in the intangible assets section of the statement of financial position: 1. An investment in a subsidiary company 2. Timberland 3. The cost of an engineering activity that is required to advance a product’s design to the manufacturing stage 4. A lease prepayment (six months of rent paid in advance) 5. The cost of equipment obtained under a capital lease 6. The cost of searching for applications for new research findings 7. Costs incurred in forming a corporation 8. Operating losses incurred in the stan-up of a business 9. Training costs incurred in the stan-up of a new operation 10. The purchase cost of a franchise 11. Goodwill generated internally 12. The cost of testing in the search for product alternatives 13. Goodwill acquired in the purchase of a business 14. The cost of developing a patent 15. The cost of purchasing a patent from an inventor 16. Legal costs incurred in securing a patent 17. Unrecovered costs of a successful legal suit to protect the patent 18. The cost of conceptual formulation of possible product alternatives 19. The cost of purchasing a copyright 20. Product development costs 21. Long-term receivables 22. The cost of developing a trademark 23. The cost of purchasing a trademark 24. The cost of an annual update on payroll software 25. A five-year advertising contract for rights of advertising by a top hockey player in Canada 26. Borrowing costs specifically identifiable with an internally developed intangible asset Instructions (a) Indicate which items on the list would be reported as intangible assets on the statement of financial position. (b) Indicate how, if at all, the items that are not reportable as intangible assets would be reported in the financial statements. (c) Identify any differences between ASPE and IFRS with respect to capitalization of such items as intangible assets. View Solution:
The following is a list of items that could be

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