intangible asset

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February 4, 2019 at 11:11 am #504110
iyamu
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Please, i did not understand very well the non current asset that are infinite and finite .

Is good will categorize as infinite intangible asset ? do we treat it same way as intellectual property , brand, copy rights, and others etc
February 4, 2019 at 8:58 pm #504192
P2-D2
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Hi,

Infinite means that its life goes on forever.

Finite means that the life lasts a specific length of time, say 10 years.

Goodwill is an intangible under IFRS 3, and has an indefinite life so will be subject to annual impairment reviews.

Thanks
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