Abstracts » Business

Accounting for the intangible

Article Abstract:

International Accounting Standard (IAS) 38, Intangible Assets, deals with the accounting procedures used in accounting for corporate expenditures on such items as brands, goodwill, mastheads, mineral rights, R&D, advertising and publishing titles. The standard seeks to define the specific circumstances needed to classify whether an expense can be considered an intangible asset or simply written off as an expense in the company's income statement. An intangible asset, which is similarly depreciated as with most tangible fixed assets, is defined as non-monetary, separately identifiable, lacking in physical substance and is held by an entity for the purpose of producing or rendering goods or services, for administrative purposes or for renting to others.

Accountants

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Body talk

Article Abstract:

The Professional Associations Research Network defines professional body as a gateway to education or experience, a register of members, a code of conduct for members, and a system to maintain standards. The challenges for all professional bodies are to be more influential and to work together to benefit society as a whole.

United Kingdom, Product standards, safety, & recalls, Accounting Methods, Professional Organizations, Professional Membership Assns, Trade and professional associations, Professional associations

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Standard bearer

Article Abstract:

The Chinese authorities have been establishing new accounting standards and have introduced an Accounting Law, to enable them to cope with the internationalisation of their markets and businesses. To ensure the implementation of the standards it will be necessary to train many Chinese accountants.

China, Laws, regulations and rules

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