[Verse 1] When assets lack a body you can touch No warehouse holds these treasures in their clutch Patents, trademarks, software codes that gleam Identifiable, controlled, future streams But recognition needs a stricter test Probable benefits and costs assessed [Chorus] I-D-E-N-T-I-F-Y the asset first C-O-N-T-R-O-L the benefits dispersed Future economics flowing to your door Recognition when it's probable and more IAS thirty-eight will be your guide Through the intangible divide [Verse 2] Research spending hits expense today No asset born from knowledge gathering's way But development shifts when criteria align Technical feasibility draws the line Intention and ability to complete Resources adequate to make it neat [Chorus] I-D-E-N-T-I-F-Y the asset first C-O-N-T-R-O-L the benefits dispersed Future economics flowing to your door Recognition when it's probable and more IAS thirty-eight will be your guide Through the intangible divide [Bridge] Finite lives get amortized each year Useful life determines how severe Indefinite means no foreseeable end Annual impairment tests you must defend Residual value rarely comes to play Zero's usually what the books display [Verse 3] Internally generated goodwill stays Off the balance sheet through all its days Brand names built through advertising spend Cannot be capitalized, just expense them Subsequent costs enhance or maintain Only enhancement qualifies the gain [Chorus] I-D-E-N-T-I-F-Y the asset first C-O-N-T-R-O-L the benefits dispersed Future economics flowing to your door Recognition when it's probable and more IAS thirty-eight will be your guide Through the intangible divide [Outro] Separable or arising from a right Makes identification crystal bright Measure cost initially, then choose your way Cost or revaluation model day by day
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