Title: Assess the value of a company’s intangible assets.
Course: Accounting, Advanced (12104-II) > Section: Understanding Accounting Concepts for Long-Term Assets

Assessment should include

- identifying the intangible assets (e.g., corporate intellectual property such as patents, trademarks, copyrights, business methodologies; brand recognition; goodwill) as having an identifiable or indefinite useful life
- determining the value of the identified assets
- amortizing the cost of intangible assets with identifiable useful lives on a straight-line basis over their economic or legal life, whichever is shorter
- determining whether the value of intangible assets with indefinite useful lives has been impaired.