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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:Friday, 13 January 2012
Posted by Muhammad Atif Saeed

Law Dictionary Word Under W


Ward of court a person who is protected by the High Court, such as a minor.

Warrant is:
_ a certificate which gives the person holding it the right to buy shares at a given price;
_ a magistrate's written instruction to arrest someone; or
_ a magistrate's written instruction to search a property.
Warranty a term in a contract. If the term is not complied with damages can be claimed by the injured party.

Wayleave a right of way through or over a piece of land often for a particular purpose, such as for a pipeline to go through a piece of land or for goods to be carried over it.

Will a legal document which people use to bequeath (leave as a gift) money and property when they die. 

Winding up disposing of all a company's assets and paying all its debts. Any money left is then divided among the members.

Without prejudice when written on a document, the document cannot be used as evidence that a contract or agreement exists.

Witness someone who:
_ watches a signature being put on a document, and then signs as well to verify the signature's
authenticity; or
_ attends court to testify about events they know about. To witness a document is to watch it being signed and then add your own signature and name, address and occupation.

Words of art words which have a fixed meaning in law so that their use in a legal document can have only one interpretation.

Writ an order issued by a court telling someone to do something or not to do something. (This has been known as a 'claim form' since April 1999).

Writ of execution a type of writ ('claim form' since April 1999) used when a court judgement needs enforcing.

Writ of summons a type of writ ('claim form' since April 1999) used to start a civil case in the High Court. (This has been known as a 'claim form' since April 1999).

Wrongful dismissal ending an employee's contract without following the contract's terms.

Wrongful trading continuing to trade while knowing that there is little prospect of the company being able to pay its debts.

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Posted by Muhammad Atif Saeed on 02:21. 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 02:21. 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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