Understanding Accountancy


Intangible assets include property or rights that do not have a material form, but are capable of generating income over a long period.

On the territory of the Russian Federation there are the following types of intangible assets.

1. Industrial property objects:

1) the property right to the industrial design, which is a new product of the original design on the basis of existing banking solutions;

2) trademark;

3) know-how;

4) licenses for the right to carry out activities;

5) the right to a place on the exchange.

2. Property rights to real estate.

3. Intellectual property rights.

4. Copyright to the invention.

5. Good — will is the authority of the firm plus or minus the difference between the market value of the assets of the firm and the actual selling price.

6. Software computer facilities.

7. Organizational costs – costs associated with the creation, registration and the start of operation of the enterprise.

8. Own intelligence.

Intangible assets are recorded at the original cost on account 04. Their value consists of the sum of the costs associated with their acquisition. VAT on intangible assets is recorded and debited in the same way as fixed assets. Intangible assets transfer their value in parts in the form of depreciation.

Accounting for the disposal of intangible assets.

Types of disposal:

1) selling;

2) gratuitous;

3) transfer to the authorized capital of other enterprises;

4) termination;

5) write-off.

Changes in accounting policies should be introduced from the beginning of the fiscal year in order to ensure comparability of accounting data.

When forming the accounting policy, it is understood that the assets and liabilities of the organization exist separately from the assets and liabilities of the owners of both this and other organizations; the organization will continue in the foreseeable future; The accounting policy adopted by the organization is applied sequentially from one reporting year to another.