INTANGIBLE ASSETS - 7625-SEP-2010
ACCOUNT NUMBER 2400, Intangible Assets
A summary account of intangible assets used for financial reporting purposes (Account 2410 and 2494).
ACCOUNT NUMBER 2410, Intangible Assets – Amortizable
A summary account of amortizable intangible assets (Accounts 2411 through 2414).
ACCOUNT NUMBER 2411, Computer Software–Amortizable
Shows the cost of state-owned computer software (purchased, licensed, and internally generated) under the jurisdiction of the particular agency.
ACCOUNT NUMBER 2412, Land Use Rights–Amortizable
Shows the cost or appraised value of state-owned amortizable land-use rights (easements, water rights, timber rights, and mineral rights) under the jurisdiction of the particular agency that were acquired separate from the land they are associated with. Land use rights bundled with the ownership of land should not be separately recorded as intangible assets.
ACCOUNT NUMBER 2413, Patents, Copyrights, Trademarks–Amortizable
Shows the cost or appraised value of state-owned amortizable patents, copyrights and trademarks under the jurisdiction of the particular agency.
ACCOUNT NUMBER 2414, Other Intangible Assets–Amortizable
Shows the cost or appraised value of state-owned amortizable intangible assets, not otherwise classified.
ACCOUNT NUMBER 2420, Intangible Assets–Non-Amortizable
A summary account of non-amortizable intangible assets (Accounts 2422 through 2424). An intangible asset is considered non-amortizable if it has an indefinite useful life.
Computer software should never be considered to have an indefinite useful life.
ACCOUNT NUMBER 2422, Land Use Rights–Non-Amortizable
Shows the cost or appraised value of state-owned non-amortizable (i.e., with an indefinite useful life) land-use rights (easements, water rights, timber rights, and mineral rights) under the jurisdiction of the particular agency that were acquired separate from the land they are associated with. Land use rights bundled with the ownership of land should not be separately recorded as intangible assets.
ACCOUNT NUMBER 2423, Patents, Copyrights, Trademarks–Non-Amortizable
Shows the cost or appraised value of state-owned non-amortizable (i.e., with an indefinite useful life) patents, copyrights and trademarks under the jurisdiction of the particular agency.
ACCOUNT NUMBER 2424, Other Intangible Assets–Non-Amortizable
Shows the cost or appraised value of state-owned non-amortizable (i.e., with an indefinite useful life) intangible assets, not otherwise classified.
ACCOUNT NUMBER 2430, Internally Generated Intangible Assets in Progress
Shows the amount expended on internally generated intangible assets that are not yet complete and, therefore, cannot be capitalized in the specific intangible asset accounts. Once the internally generated intangible asset is complete, the total cost is moved from this account to the specific intangible asset account.
ACCOUNT NUMBER 2490, Accumulated Amortization–Intangible Assets (Credit Balance)
A summary account of accumulated amortization on intangible assets (Accounts 2491 through 2494).
ACCOUNT NUMBER 2491, Accumulated Amortization–Computer Software (Credit Balance) Shows accumulated amortization on computer software.
ACCOUNT NUMBER 2492, Accumulated Amortization–Land-Use Rights (Credit Balance) Shows accumulated amortization on land-use rights.
ACCOUNT NUMBER 2493, Accumulated Amortization–Patents, Copyrights, Trademarks (Credit Balance)
Shows accumulated amortization on patents, copyrights and trademarks.
ACCOUNT NUMBER 2494, Accumulated Amortization–Other Intangible Assets (Credit Balance) Shows accumulated amortization on intangible assets, not otherwise classified.