FRS 102: Intangible assets under UK GAAP

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Disclosure of amounts incurred by the entity for the provision of key management personnel services that are provided by a separate management entity (IAS 24.18A). Please note that while an entity may meet the definition of a qualifying entity and may therefore apply FRS 101 to its individual financial statements, some of the disclosure exemptions may only be taken when other conditions are satisfied. However, a qualifying entity which is required to, or voluntarily chooses to, prepare consolidated financial statements may not apply FRS 101 in its consolidated financial statements. A parent company will only qualify as a small entity if the group headed by it qualifies as a small group. Group limits are the same as the entity limits above if the group is looked at on a net basis ie after the elimination of group transactions.

Purchased organisational capital

For a small business it should be a relatively quick process – if it drags on, this in itself may be a warning sign that there are problems you haven’t yet considered. It will also give you a better understanding of the business and its future potential. It’s a comprehensive process of research that will ensure that you really know what you are getting into, and that everything is what it seems. Activities of online auction house, agents involved in bringing sellers and buyers together to form a trading partnership. Sale of motor vehicles, maintenance and repair of motor vehicles, the sale of motor vehicle parts and accessories, sale, maintenance and repair of motorcycles and related parts and accessories.

  • We have a programme of work to examine the current coverage and measurement of intangible assets and to identify where improvements could be made.
  • Business surveys are generally better able to capture the investment in assets that arise from purchases by firms, and so these data are generally the source for the estimation of investment in the purchased components of intangible assets.
  • It is preferable to calculate the current price of unlisted shares branch by branch.
  • From 1997 to 2010, investment in tangible and intangible assets appears to be broadly moving in the same direction.
  • Goodwill is the difference between the value of assets of a company and its valuation, normally driven by the sum of uncapitalised assets that remain unaccounted for.
  • To be classed as a business asset it must have been purchased either exclusively or primarily for business use.

The counterpart financial assets and liabilities have the same values in the balance sheet. Commissions, fees and taxes are recorded as services provided in carrying out the transactions. Table 6 provides a breakdown by industry of investment in intangible assets for 2015.

Figure 1: Volatility in growth rates of intangibles different to that of tangibles after 2010

If the seller is a company, conduct company searches and search for charges over assets. Whether employees transfer to the buyer of assets will depend on the individual circumstances of the transaction and whether the assets constitute a going concern. There may be an obligation during the acquisition process to inform and consult with employees under the Transfer of Undertakings Regulations . Our solicitors are well-positioned to provide commentary on all manner of commercial legal issue and regularly contribute to both national, sector and industry press. Our expert technology solicitors advise both specialist technology companies as well as their partners, customers, and users.


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