DescriptionOur FRS video training courses are approximately 1 hr in duration. Bulk purchase discounts are also available, please call 0844 815 5550 for more information.
Goodwill and Intangible Assets are dealt with in two separate sections of FRS 102, unlike in outgoing GAAP which deals with the two items in one standard.Section 18 of FRS 102 deals with intangible assets other than goodwill, and Section 19 deals with business combinations and goodwill. This Key Change course examines some of the key differences and concepts in FRS 102 in relation to goodwill and intangible assets. The amortisation of such intangible assets is proving to be a confusing point for many practitioners and it is important that the technical aspects relating to amortisation methods are clearly understood to ensure correct accounting treatment on transition to FRS 102.This Key Change course will examine:
- Some of the notable differences found in FRS 102 as opposed to the treatments noted in previous UK GAAP
- How to identify the cost of an intangible asset
- What the amortisation methods should be when a reliable estimate of the useful economic life of an intangible asset cannot be ascertained
- The circumstances when it is permissible to recognise goodwill on a balance sheet
- What happens when negative goodwill arises
- Disclosure issues
This course is particularly relevant to accountants in practice that have clients with intangible assets on the balance sheet; particularly those where the useful economic life of such intangible assets is subjective. In addition, it is also particularly relevant to those accountants acting for clients that have not previously amortised goodwill on the basis of indefinite useful lives.