| Abstract: | Years of debate have failed to produce an Australian consensus on accounting for identifiable intangible assets. The AASB in 1999 re-affirmed its view that assets such as brand names, mastheads, licences and trademarks have depreciable amounts that are required to be depreciated. Meanwhile, the Australian Securities and Investments Commission has increased the pressure on companies to amortise such assets. Following a submission from the Group of 100 and others in May 2000, the AASB resolved to place the topic back on its work program. Current proposals by the FASB to accept non-amortisation of goodwill and other intangibles with indefinite lives has "turned up the heat" for further AASB action. |
