Intangible assets are basically fixed assets that have no physical status (e.g. goodwill, patentright,copyright etc) . The Intangible assets are written off after a specified period. Fictitious assets also have no physical existence but they only include the assets having the nature of deffered revenue expenditures (e.g. deffered advertisement expenses, discount on issue of shares or debentures).
Intangible assets refers to the assets that cannot be touch or see and fictiuos asset refers to the the intangible assets that have only money value.
Fictitious assets-fictitious assets are deffered revenue expenditure whose benefit is derived over long period of time.Even accumalated losses are also fictitious assets as they are written off over a period of time.All fictitious assets are intangible but all intangible assets are not fictitious.ex goodwill.patents,trademarks,copyrights are intangible but not fictitious.following are the examples of fictitious assets are-preliminary expenses,discount on issue on debenture and shares,underwriting commission,miscellaneous expenditure,profit and loss(dr).
intqngible assets whats is cost for licensed, bonds insurances etc?
Rent is the consideration payable for the use of tangible assets i.e. Building and machinery etc. Royalty is the consideration payable for the use of special right in a tangible or intangible asset.
internal resource are tangible assets , intangible assets and organizational capabilites. tangible assets are most easily identified assets often found on a firm's balancesheet. they include production facilities, raw materials, financial resources, real estate and computers. intangible assets are firm's assets that you can not touch or see but that are very often critical in creating competitive advantages :brand names, company reputation, organizational moral, technical knowledge, patent and trade mark. organisational capability are skills( the ability and ways of combining assets, people and process) that a company usesvto transform inputs into outputs.
examples of these systems are the information system, accounting system, purchasing system, and sales system
Fictitious assets-fictitious assets are deffered revenue expenditure whose benefit is derived over long period of time.Even accumalated losses are also fictitious assets as they are written off over a period of time.All fictitious assets are intangible but all intangible assets are not fictitious.ex goodwill.patents,trademarks,copyrights are intangible but not fictitious.following are the examples of fictitious assets are-preliminary expenses,discount on issue on debenture and shares,underwriting commission,miscellaneous expenditure,profit and loss(dr).
We can feel tangible asset,where as we cannot feel intangible asset
1 - Goodwill 2 - market related intangible assets 3 - Customer related intangible assets 4 - Contract related intangible assets 5 - Artistic related intangible assets 6 - Technology related intangible assets
it is prepared so the amount reduced will be utilised in writing of fictitious assets, some intangible assets and the over valued portion of fixed assets
Intangible assets are subject to devaluation not depreciation.
Intangible Assets are not included in current assets. They are usually listed under Other Assets.
Tangible Assets: These are those assets which have physical existence and which can be seen by naked eyes or has feeling. Intangible Assets: These are reverse from tangible assets as these have no physical existence and nobody can see them with eyes.
Tangible assets for a bank include all assets after making deductions for goodwill and intangible resources. Intangible assets have no physical properties.
Depreciation is charged to tangible assets while amortization is used to charge intangible assets.
Intangible assets are also assets like any other assets so if all other assets have debit as a default balance then intangible assets also have debit as default balance. Like Goodwill etc.
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.
Intangible assets are assets like other assets just they cannot be seen by eye or feel by hand but as they are assets they are included in assets and part of liability.