Intangibles
<p>The objective of this Standard is to prescribe the accounting treatment for intangible assets that are not dealt with specifically in another Standard. This Standard requires an entity to recognise an intangible asset if, and only if, specified criteria are met. The Standard also specifies how to measure the carrying amount of intangible assets.(AASB 138)
 
An intangible asset is an <a href="http://www.investopedia.com/terms/a/asset.asp" >asset</a> that is not physical in nature. Corporate <a href="http://www.investopedia.com/terms/i/intellectualproperty.asp" >intellectual property</a>, including items such as patents, <a href="http://www.investopedia.com/terms/t/trademark.asp" >trademarks</a>, <a href="http://www.investopedia.com/terms/c/copyright.asp" >copyrights</a> and business methodologies, are intangible assets, as are <a href="http://www.investopedia.com/terms/g/goodwill.asp" >goodwill</a> and <a href="http://www.investopedia.com/terms/b/brand-recognition.asp" >brand recognition</a>. <a href="http://www.investopedia.com/video/play/what-are-intangible-assets/" >Intangible assets</a> exist in opposition to tangible assets which include land, vehicles, equipment, inventory, stocks, bonds and cash.
Read more: <a href="http://www.investopedia.com/terms/i/intangibleasset.asp#ixzz4RY3ay6n1" >Intangible Asset Definition | Investopedia</a> <a href="http://www.investopedia.com/terms/i/intangibleasset.asp#ixzz4RY3ay6n1" >http://www.investopedia.com/terms/i/intangibleasset.asp#ixzz4RY3ay6n1</a> 
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