Упрощенная HTML-версия
Intangible Assets
The following groups of intangible assets are specified for financial reporting:
n
Rights;
n
Trademarks;
n
Production licences;
n
Software and software licences;
n
Other intangible assets.
Item can be recognized as an intangible asset, if such item meets:
n
definition of intangible asset;
n
the following recognition criteria:
а) There is a probability that the Company will obtain the future economic benefits related to the asset;
б) The asset’s cost value can be measured with reliability.
An intangible asset should be evaluated initially at the cost value of acquisition. All intangible assets that are acquired,
obtained or created, but are not put into operation, shall be reflected at the account of capital investments into acqui-
sition (creation) of intangible assets. After the beginning of their actual use, intangible assets are reflected at the ac-
count of intangible assets.
The cost of intangible assets created by the Company includes all expenses for creation, production and preparation of
an asset for usage for its intended purpose.
Amortization of intangible assets is calculated by straight-line method during their useful life. Liquidation value of the
intangible assets with restricted useful life is assumed as equal to zero.
Inventories
Inventories are classified by the following groups:
n
Basic raw materials, materials, fuel and power stocks;
n
Auxiliary raw materials, materials and other stocks;
n
Work in progress;
n
Spare parts;
n
Construction materials;
n
Finished products, semifinished products and the goods for resale.
76
MOTOR SICH