Consider the features of intangible assets and respond to the following:
Discuss the problems you may face while accounting for intangibles.
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As the intangible assets have no physical form, it is difficult to find evidence for their existence and hence complicate their accounting too. Intangible assets are recorded as an asset in the balance sheet if future economic benefits can be expected to flow from these assets to the firm. However, it is not always easy to ...
This solution discusses the problems that could occur while accounting for intangibles.