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An article a day keeps the doctor away

An article a day keeps the doctor away #4

Secure compliant data that you recycle inside your business.

William Nicholls

Last Update 4 days ago

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Intangible assets

Intangible fixed assets are non-physical but can have great value to the company.

They can include trademarks, copyrights, patents, brands, intellectual property, customer lists and goodwill.

Intangible assets are treated differently according to whether they were acquired by the company or created internally.

Those it has acquired are listed as assets on the balance sheet, but those it generates internally are not.

Instead, any expenses incurred by creating them are entered as expenses on the income statement.

So in fact patents, brands, trademarks, intellectual property and such, if internally generated, have no place on the balance sheet for micro-entity companies.

In other words, they cannot be capitalised. This can mean that a company’s most valuable assets do not appear on its balance sheet.

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