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Amortization is recorded in the financial statements of an entity as a reduction in the carrying value of the intangible asset in the balance sheet and as an expense in the income statement. Under International Financial Reporting Standards , guidance on accounting for the amortization of intangible assets is contained in IAS 38. [ 1 ]
In tax law, amortization refers to the cost recovery system for intangible property.Although the theory behind cost recovery deductions of amortization is to deduct from basis in a systematic manner over an asset's estimated useful economic life so as to reflect its consumption, expiration, obsolescence or other decline in value as a result of use or the passage of time, many times a perfect ...
When the purchaser of an intangible asset is allowed to amortize the price of the asset as an expense for tax purposes, the value of the asset is enhanced by this tax amortization benefit. [1] Specifically, the fair market value of the asset is increased by the present value of the future tax savings derived from the tax amortization of the ...
Intangible asset finance, also known as IP finance, is the branch of finance that uses intangible assets such as intellectual property (legal intangible) and reputation (competitive intangible) to gain access to credit. Intangible assets can for example be used in equity finance.
Asset costs and accumulated depreciation were tracked by "vintage accounts" consisting of all assets within a class acquired in a particular tax year. All vintage accounts for the same year were assumed placed in service in the middle of the year; however, a taxpayer could elect the modified half year convention with potentially favorable results.
Articles relating to intangible assets, assets that lack physical substance. Examples are patents , copyright , franchises , goodwill , trademarks , and trade names , as well as software . Subcategories
The engine is the largest reciprocating engine in the world. The 14-cylinder version first entered commercial service in September 2006 aboard the Emma Mærsk . The design is similar to the older RTA96C engine, but with common rail technology (in place of traditional camshaft , chain gear , fuel pump and hydraulic actuator systems).
The Mitsubishi 6A1 engine is a series of piston V6 engines from Mitsubishi Motors, found in their small and medium vehicles through the 1990s. They ranged from 1.6 to 2.5 L (1,597 to 2,498 cc) in size, and came with a variety of induction methods and cylinder head designs and configurations.
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