An intangible asset is defined under International Financial Reporting Standards (IFRS®) as an identifiable, non-monetary asset without physical substance. Intangible assets are identified separately on a company’s financial statements, and come in two primary forms: Legal intangibles and competitive intangibles.
Our recent article written by Irfan Ismail Sadik – available for download here – explores this definition further and provides guidance on how to account for intangible assets.
Burhani Associates & Co are certified public accountants in public practice. Our mission is to be the partner of choice for Tanzanian businesses who seek to formalize and outsource their finance operations. Burhani Associates operates with three core values.
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