Tag - AS 26

AS-26- Intangible Assets (Part – 2)

Hello everyone, thanks for the appreciation for the first part of AS 26, now we will start the second part of our AS 26. In case you have missed the previous part, then don't worry and click here to read it. Self generated Intangible asset are Goodwill, titles, brand, copyrights will not be recognised in accounts. Other self generated Intangible asset should be recognised in accounts for example websites, softwares, patents, knowhow, formulation. Expenditure incurred on research should be recorded as expense. [...]

AS-26- Intangible Assets (Part 1)

Recognition Of AS-26- Intangible Assets, Its Accounting Treatment And Disclosure Requirement (Part 1) Being a commerce professional the term Intangible Asset is so common, generally we think  intangible asset is that asset which we cannot touch, feel, see etc. so according to this meaning prepaid advances is intangible assets as we cannot feel, touch or see, but it is not so prepaid advances are not intangible assets it is tangible, So friends discussing with you all in detail the concept [...]

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