Accounting for Intangibles and Research and Development Costs
Author: Pat Patterson
| CPE Credit: |
2 hours for CPAs |
This course focuses on accounting for intangibles, goodwill, and computer software. This course also speaks to the accounting and reporting requirements related to research and development costs.
This course is excluded from the following subscription programs:
Value Pass, Self-Study Package, Webinar Package, Self-Study & Webinar Package, and Firm Package.
Publication Date: February 2023
Designed For
Attendees should include all professionals who have a need to understand the accounting for intangibles, goodwill, and research and development costs
Topics Covered
- Intangible assets
- Recording an intangible asset
- How to record impairment losses when a difference between carrying value and expected future cash flows exists
- When to amortize intangible assets
- Testing intangibles with finite lives for impairment the same way as long-term tangible assets
- Testing intangibles with indefinite lives, including goodwill, are tested for impairment at least annually
- Private companies making an alternative accounting policy election test goodwill for impairment when triggering events occur
- Updates to the goodwill impairment process
- Other issues as deemed appropriate
Learning Objectives
- Recognize the acquisition of intangibles, and the principles related to amortization, impairment, and disposition
- Identify the accounting for goodwill as well as the key consideration with respect to impairment testing
- Describe areas of interest
- Identify Research and Development costs
- Describe Costs of Computer software products developed internally and purchased
- Recognize Research and Development activities
Level
Intermediate
Instructional Method
Self-Study
NASBA Field of Study
Accounting (2 hours)
Program Prerequisites
A general understanding for related GAAP issues.
Advance Preparation
None
