Consider the following questions:
1) Discuss why does the accounting profession make a distinction between internally created intangibles and purchased intangibles.
2) Discuss the factors to be considered in estimating the useful life of an intangible asset.
3) What is goodwill? Discuss. And, what is negative goodwill.
4) Discuss the pattern of amortization for a limited life intangible.
5) Explain the difference between artistic-related intangible assets and contract-related intangible assets.
6) In examining financial statements, financial analysis often write-off goodwill immediately. Comment on this procedure.