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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:Thursday, 12 January 2012
Posted by Muhammad Atif Saeed

Law Dictionary Word Under G

Garnishee order a court order to a third party who owes money to a judgement debtor to pay the money to the judgement creditor.

General damages damages a court will give to compensate for a wrong done without needing specific proof that damage has been done to the claimant ('plaintiff' before April 1999). The court presumes that losses or damage exist such as in a libel case.

General meeting a meeting of the members of a company to make decisions about the company. 

Grant proof that you are entitled to deal with a dead person's estate. The grant is issued by the Probate Registry.

Grant of probate a certificate proving that the executors of a will are entitled to deal with the estate. When a person dies the executors fill in various forms for the Probate Registry. The forms are then sent to the registry together with the will and the death certificate. A registrar examines all the documents and, once satisfied with everything, issues the grant of probate.

Grievous bodily harm intentionally causing serious physical harm to someone. This is more serious than actual bodily harm.

Guarantee a promise by a person (the guarantor) to repay a debt owed by a second person if the second person fails to repay it. For example, a guarantee is sometimes required by a bank before it will lend money to a customer.

Guarantee company a company whose members only have to pay the amount they have agreed to contribute, if the company has to be wound up. They do not have to pay in extra money if there is not enough to pay all the company's debts.

Guarantor a person or organisation that promises to pay a debt owed by a second person, if the second person fails to repay it.

Guardian a person appointed formally to look after the interests of a child, or of someone who is not capable of looking after their own affairs.

Guilty - a court's verdict that the person charged with a crime committed it.

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Posted by Muhammad Atif Saeed on 14:40. Filed under , . You can follow any responses to this entry through the RSS 2.0. Feel free to 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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