... objects (2002, p.370). However, International Accounting Standard (IAS) defines an intangible asset as an identifiable non-monetary asset without physical substance (IASB, 2002, online). The elusive definitions of identifiable intangible assets contribute to the inconsistency of accounting treatments for such assets. This essay sets out to discuss some arguments about the accounting treatments for identifiable intangible assets based on the analyses of three Australian publicly listed company cases, and analyse some possible recommendations for the new standard. Case studies of three Australian publicly listed companies As per IAS 38 Intangible Assets, examples of possible intangible assets include: - computer software - patents - copyrights - motion picture films - customer lists - mortgage servicing rights - licences - import quotas - franchises - customer and supplier relationships - marketing rights (IASB, 2002, online). As there is no separate standard for identifiable intangible assets apart from research and development costs, the accounting ...

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