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Business and Policy Areas
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GASB Intangible Asset Survey Due December 17

December 1, 2004

In an effort to improve the financial reporting of net assets, the Governmental Accounting Standards Board recently began a project that addresses intangible asset reporting practices. To better determine the types of intangible assets that should be examined, GASB is gathering information through a survey. 

NACUBO asks that you help GASB understand current issues and practices by completing the survey. Your participation can influence project direction and give higher education a voice in the effort. 

The deadline for completion of the survey has been extended to December 17. The survey comprises a series of questions about each of the major types of intangible assets. Respondents can complete the survey online or print the survey and submit it by mail.

Intangible assets include a broad range of assets with two common characteristics: they are nonfinancial and they do not have traditional physical form. Major types of intangible assets include right-of-way easements; development and other easements; software; rights to use tangible capital assets (for example, school buildings or water treatment plants); rights to access the natural resources of land (including mineral, water, and timber rights); and miscellaneous intangibles including goodwill, patents, and licenses. Many believe that current authoritative guidance for intangible assets is conflicting and, consequently, that reporting practices vary from government to government.  

The NACUBO contact is Sue Menditto, director, accounting policy.