11.4 Disclosures of Intangible Assets and Goodwill

For reporting purposes, intangible assets are grouped together with similar other in- tangible assets. Some examples of these classes are patents, copyrights, computer software, or industrial designs. Most of the disclosures will be in the notes to the financial statements. Disclosures for ASPE are simpler than IFRS. For each class, some of the most important disclosures are listed below.

• Identify if the intangible assets have a definite or indefinite life, or were purchased or internally developed.
• Identify useful life, amortization policy and rate, the accumulated amortization for definite-life assets, and carrying amount for both definite- and indefinite-life assets.
• Disclose amortization amounts included in the line items of the statement of income or comprehensive income.
• Disclose the amount of research and development costs expensed through net income.
• Reconcile the beginning and ending balances of each class of intangibles, including acquisitions, increases in internally generated intangibles, amortizations, and impairments.
• Goodwill is reported as a separate line item with its carrying value and impairments amounts disclosed.
• Disclose capitalization policies.