Intangible Assets: Goodwill, Research and Development - ACCA Financial Accounting (FA) lectures

[@TheMattTaggart]

This is by far the clearest and most understandable explanation of Research and Development in accounting. Thank you very much!

[@opentuition]

Thank you for your comment :-)

[@muhammadnasser355]

I wasn't understanding this topic well but i knew you guys were there for me. Thank you so much Mr. John. Edit : And thank you to the entire team too Another edit : This is not relevant but i really laughed. Between 9:04 and 9:57, Mr. John repeated "we know" 6 times, that really made me laugh

[@maaptutors166]

🤣🤣me also

[@bintapatel190]

Thanks Prof ,You've made it clear to understand.

[@Provolines]

Extremely clear and direct. Thanks so much.

[@opentuition]

Thank you for your comment :-)

[@hlengiwedakile5861]

thank you much you made it crystal clear for me

[@cobra8310]

Thank you sir

[@1La2La3La4La]

Thanks for sharing. A small tip, if I could : Please try to speak clearer, when the material should reach out to international audience . Greets!

[@karenpinto4467]

turn on CC. He is speaking clearly. You probably aren't used to his accent.

[@hungrylion7742]

He is speaking clearly. He’s British so it’s his accent.

[@googleuser5299]

Very useful

[@Billyjackson117]

Under IAS 38, Goodwill is not considered an intangible asset. I think you’re confusing this with US GAAP which include Goodwill in the definition of intangible asset.

[@opentuition]

Not true. Purchased goodwill is recognised as an intangible asset. (Internally generated goodwill is not recognised as stated in the lecture).

[@Billyjackson117]

@@opentuition I disagree with this statement. Under IAS 38, the first definition of an intangible asset is “identifiable.” As in “identifiable non-monetary asset without physical substance.” Goodwill is not considered identifiable under IFRS because it cannot be separated from the company as a whole under acquisition. Goodwill occurs when the acquisition price exceeds the fair value of the identifiable assets (both tangible assets and the identifiable intangible assets) acquired. Another thing is the scope of Goodwill is dealt with under IFRS 3 (business combination) and not IAS 38.- Official IFRS website

[@opentuition]

@@Billyjackson117 Sorry - you are correct in that it is IFRS 3. The lecture will be amended.

[@asledinovmekhroj2481]

Cool🦾 appreciate it