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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 J

Joint and several liability two or more people responsible for repaying a debt. They are each responsible individually to repay all the debt as well as being responsible as a group.

Joint lives policy a life assurance policy on more than one person's life. The policy pays out on the first death.

Joint tenancy two or more people having identical shares in land.

Joint will a single will which two or more people make to cover all their estates. Probate has to be obtained on each death.

Joyriding taking a vehicle without permission and using or allowing it to be used without authority.

Judge a person whose job is to adjudicate in court cases. The Crown and the Prime Minister appoint judges. Most are barristers but some are solicitors. 

Judge advocate a lawyer who advises a military court which is trying an offence.

Judge Advocate General a lawyer who is in charge of military justice in the British Army and the Royal Air Force. 

Judge Advocate General's Department a government department which appoints barristers to advise army and air force courts. 

Judge Advocate of the Fleet a lawyer who is in charge of military justice in the British Navy.

(Office of the)Judge Advocate of the Fleet a government department which appoints barristers to advise naval courts. 

Judge in chambers describes a hearing in front of a judge which is not held in court.

Judgement a decision by a court.

Judgement creditor a person who is owed money and who has been to court and obtained a judgement for the money owed. 

Judgement debtor a person who owes the money a court judgement says is owed.

Judgement in default getting a judgement against you because youfailed to do something. If a civil case has gone to court but the defendant does not do something required by the court (such as turn up), judgement for the claimant ('plaintiff' before April 1999) may be given. 

Judgement summons a summons to appear in court to disclose (reveal) income and assets under oath because a judgement debtor has failed to pay the judgement debt.

Judicial discretion a degree of flexibility about the way courts do things. 

Judicial immunity immunity that a judge normally has from being sued for damages when acting as a judge.

Judicial precedent Lower courts have to follow the decisions of higher courts. This is called judicial precedent, binding precedent or precedent.

Judicial separation a court order that two married people should live apart.

Junior barrister a barrister who is not a Queen's Counsel. 

Jurisdiction is:
_ the territory in which a court can operate;
_ the power it has to deal with particular cases; or
_ the power it has to issue orders.

Juror one of the people who are acting as a jury. 

Jury a group of people (usually 12) who review all the evidence in a court case and then come to a verdict. 

Jury service serving on a jury. Most people between the ages of 18 and 70 can be required to serve on a jury. 

Just and equitable winding up a winding up ordered because fairness cannot be achieved for all the members of a company. 

Justice of the Peace (JP) a person appointed by the Crown to act as a magistrate.

Justification claiming that a defamatory statement is true. In a defamation case a defendant may admit that the claimant ('plaintiff' before April 1999)'s allegations are true but plead that the statement which defamed was true.

Justifying bail proving to the court that the person giving the surety has the assets to pay the bail.

Juvenile offender a person aged between 10 and 17 who has committed a criminal offence.

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Posted by Muhammad Atif Saeed on 14:48. 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
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  6. Asset Management Market Efficiency Asset Management Market Efficiency
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