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Legal and Regulatory Aspects of the Recognition and Accounting of Intangible Assets

Author

Listed:
  • Mariya Chik

    (Lviv University of Trade and Economics, Lviv, Ukraine)

Abstract

The purpose of the article is to reveal the legal and regulatory aspects of the recognition and accounting of intangible assets. An analysis of the interpretation of the essence of the concept of "intangible assets" proposed by both academics and international and domestic accounting standards is carried out. It is revealed that the concept of "intangible assets" due to the lack of a clear mechanism for their identification to date, is interpreted differently in the domestic theory and practice of accounting, which is the result of ambiguous understanding of their economic nature and legal content. The criteria for recognizing intangible assets in accounting are determined and grouped. The criteria for identification of intangible assets objects in football clubs are grounded, which allow to approach the definition of intangible assets on both sides - legal and economic. The organizational aspects of the accounting of intangible assets are disclosed, in particular, the units of accounting are specified and the groups of objects of intangible assets are presented in terms of: the subaccounting of accounts, specified in the Instruction on the use of the account plan; accounting subaccounts used in football clubs; groups of intangible assets in accordance with the Tax Code of Ukraine.

Suggested Citation

  • Mariya Chik, 2017. "Legal and Regulatory Aspects of the Recognition and Accounting of Intangible Assets," Oblik i finansi, Institute of Accounting and Finance, issue 3, pages 59-65, September.
    • Handle: RePEc:iaf:journl:y:2017:i:3:p:59-65
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    File URL: http://www.afj.org.ua/pdf/494-normativno-pravovi-aspekti-viznannya-ta-obliku-nematerialnih-aktiviv.pdf
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    File URL: http://www.afj.org.ua/ua/article/494/
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    Citations

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    Cited by:

    1. Vyacheslav Naberukhin, 2018. "Methodical Bases of Accounting and Commercial Use of the Intellectual Property Objects," Oblik i finansi, Institute of Accounting and Finance, issue 1, pages 59-63, March.
    2. Rebecca T. Michalak & Neal M. Ashkanasy, 2020. "Working with monsters: counting the costs of workplace psychopaths and other toxic employees," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 60(S1), pages 729-770, April.

    More about this item

    Keywords

    accounting; enterprise; intangible asset; business entity; sub-accounts; groups of intangible assets;
    All these keywords.

    JEL classification:

    • M10 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - General
    • M31 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - Marketing

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