Membership paid out to a 3rd party is an expense and should be in the income statement.
Membership income would be diferred income (a liability) until it can be recognised as revenue under IAS 18 then it'll be put in revenue within the income statement.
No. A prepaid asset is an asset that May be Tangible or Intangible, but is not yet 'in service'. When it is acquired and in service, is when it may be determined if it is Tangible or Intangible.
Yes, branding is an intangible asset. Usually, common referred to under Goodwill.
Goodwill is an intangible asset because it does not have any tangible physicle existance and nobody can touch or see it.
patents are intangible assets as these have not physical existence. patent is a right to use something which is not physical that's why it is an intangible asset.
Most common example of intengible asset is "GOODWILL"
Yes, golf membership has an indefinite useful life and fulfils the criteria of an intangible asset. This assumption is further confirmed if the golf membership used is not for the purpose of investment and is solely for utilisation of the services.
No. A prepaid asset is an asset that May be Tangible or Intangible, but is not yet 'in service'. When it is acquired and in service, is when it may be determined if it is Tangible or Intangible.
1)Tangible fixed asset 2)Intangible fixed asset 1)Tangible fixed asset 2)Intangible fixed asset
Yes, branding is an intangible asset. Usually, common referred to under Goodwill.
The answer is neither one. Accounts receivable are a current asset; neither an intangible asset (e.g. goodwill) nor a fixed asset (e.g. plant and equipment).
Goodwill is an intangible asset because it does not have any tangible physicle existance and nobody can touch or see it.
No it is tangible.
Yes, it is
patents are intangible assets as these have not physical existence. patent is a right to use something which is not physical that's why it is an intangible asset.
I think it is.
no, intangible
Most common example of intengible asset is "GOODWILL"