Intangible assets

Non-monetary assets that lack physical substance. They can either be identifiable (e.g. patents, trademarks, copyrights) or unidentifiable (e.g. goodwill).

Amortisation applies to identifiable intangible assets with finite lives.

Unidentifiable intangible assets are not amortised, but tested annually for impairment.

See also: Accounting for intangible assets

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