Separable Criterion (intangible assets)
The separable criterion for intangible assets dictates that an intangible asset is considered identifiable if it can be separated from the entity and sold, transferred, licensed, rented, or exchanged, either individually or together with a related contract, asset, or liability.
Debits & Credits
Debits and credits are the two sides of a transaction in double-entry bookkeeping, used to record financial transactions in the accounting system and to calculate the company's net income or loss.
Intercompany transactions are an important part of the financial management of a corporate group, helping to ensure accuracy and up-to-date financial statements, and enabling the parent company to accurately assess the financial health of its subsidiaries and report its own taxable income.
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