603.2 Accounting for Intangible Assets – Accounting Info

GENERAL ACCOUNTING POLICIES: Intangible assets follow the accounting for fixed assets, as described in Fixed Assets Accounting Policies. The provisions in this policy are to be applied in addition to Fixed Asset policy.

Intangible assets are recorded in the Banner Fixed Assets system which reconciles to the fixed asset control accounts in the Banner General Ledger.

Intangible assets are either recorded in proprietary funds (self-supporting entities such as auxiliary enterprises and service departments) or in the university’s investment in plant fund.