Disclosures Required for Internally Generated Intangible Assets

question 34

Essay

Disclosures required for internally generated intangible assets
Briefly outline what information is required to be disclosed for each class of intangible asset. What is the goal of these disclosures for publicly accountable entities?

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Definitions:

Budget Line

A graphical representation of all possible combinations of two goods that can be purchased with a given income and prices.

Commodity 1

A basic good used in commerce that is interchangeable with other goods of the same type, typically referred to when discussing market transactions.

Units of Y

A placeholder term generally referring to quantities or measurements of a variable Y.

Units of X

A measure or quantity of a particular good, product, or factor of production expressed as a discreet unit for analysis or transaction purposes.