How to determine the initial cost of the immaterial asset created by an enterprise?
How to determine the initial cost of the immaterial asset created by an enterprise? What primary documents is the basis for consideration the right of intellectual property in created immaterial assets structure for its subsequent account? What information must be contained in primary documents about charges on immaterial assets creation?
Answer:
According to PBO 8 the initial cost of the immaterial asset created by an enterprise includes direct charges on payment of work, direct material costs. Initial cost also covers other charges which are directly connected with this immaterial asset creation and putting it in order to use for its purpose (payment of legal right registration, depreciation of patents, licences, dues for submission request on registration of object of the right of intellectual property as an immaterial asset, collection for publication of information about certificate or patent delivery, payment of state duty for certificate or patent delivery, etc.).
List of direct material charges and direct charges on payment of work is identified in PBO 16. So the cost of purchasing half-finished products and stuff wares, auxiliary and other materials which are directly used for creation of concrete immaterial asset is included to the list of direct material charges. Direct charges on payment of work consist of wages and other payments to the workers engaged in creation of concrete object of immaterial assets.
Law of Ukraine «About accounting and financial reporting in Ukraine» dated 16.07.99 № 996-XIV (with the amendments and supplements) provides that primary documents which fix the facts of economic activity conduction are the grounds for accounting of economic activity. The typical forms of primary book-keeping for objects of right of intellectual property as a part of immaterial assets and order of their application are approved by the order of Ministry of Finance of Ukraine «About approval of typical forms of primary book-keeping for objects of right of intellectual property composed immaterial assets» dated 22.11.2004 № 732 (registered by Ministry of Justice of Ukraine in 14.12.2004 with № 1580/10179).
Primary documents confirming charges on creation of immaterial assets should, in particular, contain information about matter of charges (conduction of works on immaterial asset creation, expense of material values for immaterial asset creation), quantitative and cost indexes of such charges. The total initial worth of object of immaterial assets is indicated in Act (typical form № NA-1) by a commission on admission (putting) of object into an economic use. 06.02.2009
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