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Accounting for Intangible Assets

08 Mar 2012 / 0 Comments

Steve Collings looks at the fundamental principles in accounting for goodwill and intangible assets and also looks at some fundamental differences between current UK GAAP, IFRS and the proposed IFRS for SMEs.As accountants we are all aware that an intangible asset does not have any physical form

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Published On:Wednesday, 14 December 2011
Posted by Muhammad Atif Saeed

Limit and Limit Laws

The definition is difficult to use in practice, thus there exist properties that allow us to calculate the limits
  • A limit of a sum is the sum of the limits


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  • A limit of a product is the product of the limits


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  • The limit of a quotient is the quotient of the limits


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  • The limit of a constant is a constant


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  • The limit of a constant coefficient of a function is the limit of the function multiplied by the coefficient


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  • If is continuous at and then




    • We can derive other limits.

      Given where is constant and belongs to the set of rational numbers , then


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  • If for all then if and approach some limit , , then must approach the same limit
  • Left and Right Limits
  • Another way to address a limit at a point is to address the limit defined by the behavior of the function to the left of the point and to the right of the point

    • CONSIDER: The limits of the heaviside function at



      The limit defined by the behavior of to the left of is given by



      The limit defined by the behavior of to the right of is given by



      The limit defined by the overall behavior of at is given by the original definition of the limit. As such it does not exist

  • Left and right limits allow us to predict the behavior of discontinuous functions, or functions that are continuous on their domain, but contain asymptotes

  • Limits at Infinity
  • Limits at infinity for a continuous defined on , is similar to the limits of a sequence as it approaches infinity

  • Similarly the limit at negative infinity () for a continuous function defined on is simply the reversal of the inequality

    "There exists a value such that whenever then "

  • A graphical representation is the graph of



    We know that as then

    We can write in the form thus,

    The formal epsilon definition simply states for an arbitrarily chosen , there exists a value , such that whenever is greater than , then the value of are always less than the range of values created from

  • The value of is dependant on our choice of

  • Continuity
    • A function if the following holds

    • DEFINITION
      For inputs and in order for to be so close to so that (for an arbitrarily chosen ), it suffices that and are soo close that (where is dependant on the choice of )
    • CONSIDER: The Heaviside function , is it possible for any chosen to force two values and to be close such that ?

            


      If and are the same sign (the same sign property ) then no matter how close we choose and , they will always satisfy the condition



      If and are opposite signs then the condition is dependant on our choice of . If epsilon is chosen such that then the condition holds regardless of how we choose and



      However, if then the condition does not hold if and are opposite signs.

    • The definition of a continuous function is essentially a limit

    • DEFINITION
      A function is continuous at if Implying that
    • A function is continuous on an interval if it is continuous at each point on the interval

About the Author

Posted by Muhammad Atif Saeed on 21:23. Filed under , . You can follow any responses to this entry through the RSS 2.0. Feel free to leave a response

By Muhammad Atif Saeed on 21:23. Filed under , . Follow any responses to the RSS 2.0. Leave a response

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I am doing ACMA from Institute of Cost and Management Accountants Pakistan (Islamabad). Computer and Accounting are my favorite subjects contact Information: +923347787272 atifsaeedicmap@gmail.com atifsaeed_icmap@hotmail.com
  1. Accounting for Intangible Assets
  2. Fair Value Measurement of Financial Liabilities
  3. The Concept of Going Concern
  4. The Capital Asset Pricing Model
  5. Bond Valuation
  6. Asset Management Market Efficiency Asset Management Market Efficiency
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