Corresponding Policy: See ‘Accounting for Intangible Assets-Intro’ policy.
Corresponding Forms: N/A
Process: Figuring out the Amortization Policy by Account Code on Intangible Assets
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Capital Asset | Asset Type | Amortized? (Yes/No) | Amortization Frequency | Amortization Expense Account Code | Accumulated Amortization Account Code | Treatment of First Year Amortiza- |
|---|---|---|---|---|---|---|
A8210 - Easements | UE | Note 1 | Monthly | 80711 | A8711 | Note 2 |
A8221 - Computer Software | US | Note 1 | Monthly | 80721 | A8721 | Note 2 |
A8231 - Water Rights | UW | Note 1 | Monthly | 80731 | A8731 | Note 2 |
A8241 - Timber Rights | UT | Note 1 | Monthly | 80741 | A8741 | Note 2 |
A8251 - Patents & Copyrights | UP | Note 1 | Monthly | 80751 | A8751 | Note 2 |
A8261 – Trademarks | UK | Note 1 | Monthly | 80761 | A8761 | Note 2 |
A8271 - Other Intangible Assets | UO | Note 1 | Monthly | 80771 | A8771 | Note 2 |
A8222 - In Development (Computer Software) | US | No | ||||
A8252 - In Development (Patents | UP | No | ||||
A8262 - In Development (Trademarks) | UK | No | ||||
A8272 - In Development (Other Intangibles) | UO | No |
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