Accounting and Financial Reporting for Intangible Assets Policy
GASB Statement No. 51 Accounting and Financial Reporting for Intangible Assets (GASB #51) was issued June 2007 to define reporting requirements for intangible assets.
The requirements of GASB #51 are effective for financial statements for the periods beginning after June 15, 2009.
Retroactive reporting of intangible assets is not required for those assets considered having an indefinite useful life as of the effective date of GASB #51 and those items that would be considered internally generated.
View the full Accounting and Financial Reporting for Intangible Assets Policy (PDF).