Intangible Asset
Glossary definition

Intangible Asset

In accounting terms, an asset is defined as: a resource that is controlled by the entity as a result of past events from which economic benefits are expected to flow to the entity. The International Accounting Standards Board definition of an intangible asset requires it to be: an identifiable, non-monetary asset without physical substance, where the identifiability criteria is that the asset is separable from the organisation or arises from contractual or legal rights.

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