Intangible Asset

I. Formal Definition

A non-physical long-lived asset that conveys economic benefits, such as acquired customer relationships, developed technology, trademarks, and capitalised software development cost. Intangible assets are amortised over their useful lives unless deemed indefinite-lived, in which case they are tested for impairment. The federation requires intangible assets to be reported by class with useful lives, amortisation method, and impairment status disclosed under UFMS-001:5.1. Goodwill is reported separately and is subject to annual impairment testing under both GAAP and IFRS.

II. Etymology

A standard term of accounting practice; the modern construction was reshaped by IAS 38 and the FASB intangible asset standards of the 2000s.

III. Federation Usage

Federation members publish intangible assets by class with useful lives and amortisation method. Goodwill is separately reported with annual impairment testing. Material write-downs are disclosed in the period of recognition under MEV-Annex:6.1.

IV. Related Terms

• tangible-asset
• amortization
• accumulated-depreciation
• capex

V. Authoritative Citations

• UFMS-001:5.1UFMS Article V - Intangibles
• MEV-Annex:6.1MEV Annex VI - Intangible Reporting

VI. Citation in BibTeX

@misc{ifo4_glossary_intangible_asset,
  title        = {{Intangible Asset}},
  author       = {{IFO4 Federation Editorial Board}},
  howpublished = {{IFO4 Federation Glossary, slug \texttt{intangible-asset}}},
  year         = {2026},
  url          = {https://ifo4.org/glossary/intangible-asset},
  note         = {Category: Accounting; key: IntangibleAsset}
}

VII. Challenge This Definition

Federation members and accredited practitioners may challenge any entry under TGS-002:1.7. Filed challenges are routed to the editorial board, triaged into the revision register, and resolved in writing on the public docket. The slug remains stable through any revision.