Response to IASC Exposure Draft E60, "Intangible Assets" Linsmeier,

The Financial Accounting Standards Committee of the American Accounting Association is charged with responding to requests by standard setters on issues related to financial reporting. The Committee responded to IASC Exposure Draft E60, Intangible Assets. Because the Committee's expertise is in academic research of accounting issues, its response focuses on findings of academic research of accounting issues, sequent amortization of internally generated intangibles and goodwill acquired in a business combination. The Committee's response to IASC Exposure Draft E60 is discussed.