國(guó)際會(huì)計(jì)(雙語(yǔ))課程8-荷蘭課件

Chapter8.4DutchAccounting12/23/2022Chapter8.4DutchAccounting12AccountingEnvironmentCharacteristicsofDutchAccountingAccountingRegulationsDifferencesfromIFRSsChapter8.4LearningObjectives12/23/2022AccountingEnvironmentChapter1.AccountingenvironmentsPoliticalandeconomic

environmentsLegalEnvironmentAccountancyProfessionandAccountingStandardsProfessionalAccountancyBodies12/23/20221.AccountingenvironmentsPoli1.Accountingenvironment1.1Politicalandeconomic

environmentThegovernmentiscomposedofthemonarchandtheCabinetofMinisters.

TheDutchhighestlegislativebodyisthebicameralCongresses:theHouseofLordsandtheHouseofCommons.ThereareinhavesixpoliticalpartiestheNetherlands,noneofthemwaslargeenoughtobeabletoseparatelyacquiremorethanhalfofseatsinParliament.Therefore,thesmall-partycoalitioncabinetisquitecommon,andthusthegovernmentpoliciesmaintainlong-termconsistency.

12/23/20221.Accountingenvironment1.1TheNetherlandsisoneofthetoptenwesterndevelopedcountries.Dutchfamousmultinationalcompanies:RoyalDutchShellGroup,PhilipsElectronicN.V,UnileverN.V,InternationaleNederlandenGroepN.V(ING).12/23/2022TheNetherlandsisoneoftheThestockexchange:DutchcompaniesraisecapitalbothbyshareandloanissuesontheAmsterdamStockExchangeandfromthecommercialbanksintheformofshortandmediumtermloans．TheStockExchangeisnotanimportantdirectinfluenceonthecontentsofcompanyannualreports,althoughitrequiresthepublicationofhalf-yearlyprofitandlossdatabylistedcompanies．AbouthalfofthedomesticcompanieslistedontheExchangeareinvestmentcompanies.12/23/2022Thestockexchange:12/19/20AmericanInstituteofCPAsCompanyandcompanylawtherewaspracticallynolegislationatallontheformandcontentsofpublishedfinancialstatements.TheActwasincorporatedintheCivilCodein1975andwassubstantiallyamendedbytheActsof7December1983and10November1988，whichintroducedintoDutchlawtheprovisionsoftheEUfourthandseventhDirectives.1.2Legalenvironment12/23/2022AmericanInstituteofCPAsCThemainformsofbusinessorganization

beslotenvennootschapmetbeperkteaansprakelijheid(BV)‘private’company.‘public’companynaamlozevennootschap(NV)

beslotenvennootschapmetbeperkteaansprakelijheid(BV)‘private’company.

beslotenvennootschapmetbeperkteaansprakelijheid(BV)‘public’company‘private’company.

beslotenvennootschapmetbeperkteaansprakelijheid(BV)‘public’company‘private’company.

beslotenvennootschapmetbeperkteaansprakelijheid(BV)naamlozevennootschap(NV)‘public’company‘private’company.beslotenvennootschapmetbeperkteaansprakelijheid(BV)12/23/2022ThemainformsofbusinessorgOtherformsofbusinessorganization:soleproprietorships,civilpartnerships,generalpartnerships,limitedpartnerships,cooperatives,mutualguaranteeassociations.12/23/2022OtherformsofbusinessorganiThelegislationrelatingtocompanyfinancialstatementsappliestocooperativesandmutualguaranteeassociationsaswellastoNVsandBVs.From1998,thelegislationalsoappliestolargefoundationsandassociationsthathavebusinessobjectives.12/23/2022ThelegislationrelatingtocoEnterpriseChamberTheCivilCodeprovidesthatinterestedpartiesmaycomplaintotheEnterpriseChamber(Ondernemingskamer)oftheCourtofJusticeinAmsterdamiftheyfeelthatthefinancialstatementssubmitteddonotcomplywiththelaw.TheChamberiscomposedofthreejudgesandtwoexperts；thereisnojury.Theterm‘interestedparties’isdefinedbroadly,including:shareholders,employees,workscouncilstradeunions.12/23/2022EnterpriseChamberTheCivilCoTheChambermayorderrectificationofthefinancialstatements.AlthoughtherulingsoftheChamberareapplicableonlytothedefendantcompany,theChambermayindicategroundsforitsdecisions,whichmayinfluencethereportingpracticesofothercompanies.FailuretocomplywiththeCourt’srulingsmaybepunishedbyfinesorimprisonment.NorulingsweregivenbytheChamberuntil1977.Ithassofargivenaboutfiftyrulingsdealingwithaccountingpoliciesanddisclosure.12/23/2022TheChambermayorderrectificFourmajororganizationsareconcernedwiththerevision,managementandimplementationofFrenchaccountingstandards:1.3AccountancyProfessionandAccountingStandards12/23/2022FourmajororganizationsarecRJRaadvoordeJaarverslaggeving(CouncilforAnnualReporting)年度報(bào)告委員會(huì)NIVRA[Koninklijk]NederlandsInstituutvanRegisteraccountants（[Royal]DutchInstituteofAuditors）(皇家)荷蘭審計(jì)師協(xié)會(huì)SOBIStichtingOnderzoekBedrijfsInformatie公司報(bào)表研究基金會(huì)NOVAANederlandseOrdevanAccountants-Administratieconsulenten荷蘭管理會(huì)計(jì)師協(xié)會(huì)12/23/2022RJRaadvoordeJaarverslaggRJ:年度報(bào)告委員會(huì)GuidancetogenerallyacceptableaccountingprinciplesisprovidedbytheguidelinespublishedbytheCouncilforAnnualReporting(RJ).RJiscomposedof:representativesofemployers(CounciloftheDutchEmployersFederations),investmentanalystsandemployees,accountants(RoyalNIVRA).TheauthorityoftheCouncilislessthanthatoftheFASBintheUnitedStatesortheASBintheUnitedKingdom.Companiesarenotobligedtofollowtheguidelines(althoughmostofthemdoso),norneedtheyortheirauditorsstatethattheyhavebeenfollowed；auditreportsarenotqualifiedforthisreason.12/23/2022RJ:年度報(bào)告委員會(huì)GuidancetogenerallRoyalNIVRA:(皇家)荷蘭審計(jì)師協(xié)會(huì)

ThestandardsofentrancetoandtrainingfortheprofessionareveryhighandRoyalNlVRA,althoughrelativelysmall(about13,000)members,ofwhomapproximatelyhalfareinpublicpractice),hasaninternationalreputation.RoyalNIVRAenforcesarigorouscodeofethics.HighstandardsarealsoensuredbytheprovisionsoftheRegisteredAccountantsActof1962.ApartfromRegisteraccountants(RAs),thereareabout6,500Accountants-Administratieconsulenten(AAs)whomainlyprovidenon-auditingservices,andaremembersoftheNederlandseOrdevanAccountants-Administratieconsulenten(NOVAA).12/23/2022RoyalNIVRA:(皇家)荷蘭審計(jì)師協(xié)會(huì)

ThestSOBI公司報(bào)表研究基金會(huì)CorporatefinancialreportingintheNetherlandshasbeenmonitoredbyanumberofactivepressuregroups，notablySOBI(theFoundationfortheInvestigationofCorporateInformation)．SOBIisaprivatesectorbody

establishedin1976

objectives:verifyingcompliancewithlegalrequirementsinfinancialstatements(annualreports，interimstatements，prospectuses)andoftakingactionshouldtheybedeemedtobeinaccurateorinadequate．12/23/2022SOBI公司報(bào)表研究基金會(huì)Corporatefinan2CharacteristicsofDutchAccounting

AccountingStandardsWereDevelopedbyaCombinationofOfficialandCivilSociety

TaxRegulationsHadOnlyanIndirectInfluenceonDutchFinancialReportingDutchAccountingPracticeGuidedbyEconomicsTheoryandthePrevalenceofReplacementValuesandCosts12/23/20222CharacteristicsofDutchAccI.AccountingStandardsWereDevelopedbyaCombinationofOfficialandCivilSocietyAccordingtothe"ActonAnnualAccounts",thetaskofdevelopingtheaccountingstandardswaslefttotheRJ,whichiscomposedofgovernment,companiesandprofessionalaccountants,andtradeunionrepresentatives.TheCommitteecompiledallpreviousrecommendationsontheaccountingstandardsinOctober1981,andpublished"theDutchdraftguidingprinciplesofaccounting"astheDutchfinancialaccountingandreportingbasis.Now,theguidancetogenerallyacceptableaccountingprinciplesisprovidedbytheguidelinespublishedbyRJ,inwhichtheaccountingprofessionhasplayedanactiverole.12/23/2022I.AccountingStandardsWereDII.TaxRegulationsHadOnlyanIndirectInfluenceonDutchFinancialReportingTheguidelinesrequirefullprovision(comprehensiveallocation)andtheliabilitymethod．Deferredtaxationliabilitiesmaybediscountedtotheirpresentvalue,althogughthisisnotcommoninpractice．12/23/2022II.TaxRegulationsHadOnlyaIII.DutchAccountingPracticeGuidedbyEconomicsTheoryandthePrevalenceofReplacementValuesandCosts

IntheNetherlands,accountingisregardedasabranchofbusinesseconomics.Highlyrespectedprofessionalaccountantsareoftenpart-timeprofessor.Therefore,manyeconomicsapproachhavebeenappliedtoaccountingpractice,particularlyintheaccountingmeasurement.12/23/2022III.DutchAccountingPracticeDutchaccountantsarewellknownfortheirbusinesseconomicsapproachtoaccountingandtheirrecognitionoftheimportanceofreplacementvaluesandcosts.TheCivilCode,asamendedin1983,permitsbutdoesnotrequiretheuseofcurrentcostaccounting.ContrarytowidespreadbeliefoutsidetheNetherlands,surveysshowthathistoricalcostnotcurrentvalueisthenorminDutchexternalfinancialreporting.Generalratesofinflationhavebeenrelativelylow.HeinekenistheonlymajorcompanyusingCCAforexternalfinancialreporting.Corporatetaxationisbasedonhistoricalcostnotreplacementcost.12/23/2022DutchaccountantsarewellknoTheaccountingprinciplesexpresslystipulatedbytheCivilCodeare:goingconcern,consistency,accruals,prudence,realizationindividualvaluation.3.AccountingRegulations

12/23/2022TheaccountingprinciplesexprAmortization,depreciationanddiminutioninvalueoffixedassetsmustbetakenintoaccountregardlessofwhetheraprofitorlossisreported.Straight-linedepreciationisthemostcommoninpractice.Buildingsbutnotlandsareusuallydepreciated.Depreciationfortaxpurposesoftenvariesfromthatchargedintheprofitandlossaccount.12/23/2022Amortization,depreciationandIntangibleassetsotherthanresearchanddevelopmentandshareissueexpensesmaybecapitalized,butonlyifpurchased.Capitalizationmustbefollowedbyamortization,withamaximumperiodoffiveyears,althoughwherepurchasedgoodwillcanreasonablybeallocatedtoasubstantiallylongerperiod,itmaybewrittenoffoverthatperiod.Totheextentthatcertainintangibles(R＆Dandformationcosts,forexample)havenotbeenamortized,areservemustbecreated.ThisisundistributableuntilamortizationtakesPlace.Inpractice,manyDutchcompaniesdonotcapitalizeintangiblesatall,writingoffgoodwillagainstreserves.12/23/2022IntangibleassetsotherthanrIfhistoricalcostaccountingisused,tangiblefixedassetsmustbevaluedatacquisitionorproductioncost,reducedbyamortization,depreciationandanyotherdiminutioninvalue.Acquisitioncostisdefinedasthepurchasepricepluscostsincidentaltoacquisition;Productioncostisthepurchasepriceofrawmaterialandconsumablesused,plusdirectlyattributableexpensesandareasonablepartofindirectlyattributableproductionexpenses.Interestmaybecapitalized.Financeleasesarecapitalized.12/23/2022IfhistoricalcostaccountingParticipatinginterests(suchasaninvestor’sinterestsinasubsidiarycompanyorassociate)arevaluedbytheequitymethod.ThisunusualfeatureofDutchaccountingmeansthatshareholders’fundsshouldbethesameinunconsolidatedandconsolidatedbalancesheets.Forcurrentassets,thelowerofcostandmarketruleapplies.Inventoriesmustbeclassifiedaccordingtocategory,eitherinthenotestotheaccountsoronthefaceofthebalancesheet.FIFOandweightedaveragecostarethemostpopular,butLIFOisalsoexpresslypermitted.12/23/2022Participatinginterests(suchGenerallegalreservesfortheprotectionofcreditorsonthelinesofthoserequiredinFranceandGermanyarenotfoundintheNetherlands,butanumberofspecificlegalreservesmustbecreated.Thesereservesincluderelatedto:intangiblesrevaluationsoftangiblefixedassetsvaluationofparticipatinginterestsbytheequitymethod.12/23/2022Generallegalreservesforthe4.DifferencesfromIFRSsDutchrulesareregardedasreasonablyflexible,particularlyforconsolidatedstatements.Inaddition,sinceDutchlawallowscompaniestocomplywiththerulesofotherEUmemberstates,andsinceGermanyallowsuseofIFRSundercertainconditions,thismaymeanthatdirectapplicationofinternationalrulesislegal.12/23/20224.DifferencesfromIFRSs

ThereareonlyafewIFRSoptionsnotallowedorrequiredintheNetherlands:Certainsubsidiarieswithdissimilaractivitiesareexcludedfromconsolidation.Certainprovisions(forexamplemaintenance)canbemadewherethereisnoobligation,andprovisionsareshownatfacevaluenotdiscounted.ThecreationofprovisionsinthecontextofacquisitionaccountingismoreflexiblethanisallowedbyIAS.12/23/2022ThereareonlyafewThereisabroaderdefinitionofextraordinaryitems.(unusual&infrequent)Researchcostsandsomeotherinternallygeneratedintangiblescanbecapitalizedundercertainconditions.Tangiblefixedassetscanbeheldatanout-of-datefairvalue,andgainsandlossesontheirsalecanbecalculatedbyreferencetoanamountotherthancarryingvalue.Discountingofdeferredtaxprovisionsisallowed.Nospecificrequirementsfordisclosuresof：aprimarystatementofchangesinequity；discontinuingoperations.12/23/2022ThereisabroaderdefinitionChapter8.4DutchAccounting12/23/2022Chapter8.4DutchAccounting12AccountingEnvironmentCharacteristicsofDutchAccountingAccountingRegulationsDifferencesfromIFRSsChapter8.4LearningObjectives12/23/2022AccountingEnvironmentChapter1.AccountingenvironmentsPoliticalandeconomic

environmentsLegalEnvironmentAccountancyProfessionandAccountingStandardsProfessionalAccountancyBodies12/23/20221.AccountingenvironmentsPoli1.Accountingenvironment1.1Politicalandeconomic

environmentThegovernmentiscomposedofthemonarchandtheCabinetofMinisters.

TheDutchhighestlegislativebodyisthebicameralCongresses:theHouseofLordsandtheHouseofCommons.ThereareinhavesixpoliticalpartiestheNetherlands,noneofthemwaslargeenoughtobeabletoseparatelyacquiremorethanhalfofseatsinParliament.Therefore,thesmall-partycoalitioncabinetisquitecommon,andthusthegovernmentpoliciesmaintainlong-termconsistency.

12/23/20221.Accountingenvironment1.1TheNetherlandsisoneofthetoptenwesterndevelopedcountries.Dutchfamousmultinationalcompanies:RoyalDutchShellGroup,PhilipsElectronicN.V,UnileverN.V,InternationaleNederlandenGroepN.V(ING).12/23/2022TheNetherlandsisoneoftheThestockexchange:DutchcompaniesraisecapitalbothbyshareandloanissuesontheAmsterdamStockExchangeandfromthecommercialbanksintheformofshortandmediumtermloans．TheStockExchangeisnotanimportantdirectinfluenceonthecontentsofcompanyannualreports,althoughitrequiresthepublicationofhalf-yearlyprofitandlossdatabylistedcompanies．AbouthalfofthedomesticcompanieslistedontheExchangeareinvestmentcompanies.12/23/2022Thestockexchange:12/19/20AmericanInstituteofCPAsCompanyandcompanylawtherewaspracticallynolegislationatallontheformandcontentsofpublishedfinancialstatements.TheActwasincorporatedintheCivilCodein1975andwassubstantiallyamendedbytheActsof7December1983and10November1988，whichintroducedintoDutchlawtheprovisionsoftheEUfourthandseventhDirectives.1.2Legalenvironment12/23/2022AmericanInstituteofCPAsCThemainformsofbusinessorganization

beslotenvennootschapmetbeperkteaansprakelijheid(BV)‘private’company.‘public’companynaamlozevennootschap(NV)

beslotenvennootschapmetbeperkteaansprakelijheid(BV)‘private’company.

beslotenvennootschapmetbeperkteaansprakelijheid(BV)‘public’company‘private’company.

beslotenvennootschapmetbeperkteaansprakelijheid(BV)‘public’company‘private’company.

beslotenvennootschapmetbeperkteaansprakelijheid(BV)naamlozevennootschap(NV)‘public’company‘private’company.beslotenvennootschapmetbeperkteaansprakelijheid(BV)12/23/2022ThemainformsofbusinessorgOtherformsofbusinessorganization:soleproprietorships,civilpartnerships,generalpartnerships,limitedpartnerships,cooperatives,mutualguaranteeassociations.12/23/2022OtherformsofbusinessorganiThelegislationrelatingtocompanyfinancialstatementsappliestocooperativesandmutualguaranteeassociationsaswellastoNVsandBVs.From1998,thelegislationalsoappliestolargefoundationsandassociationsthathavebusinessobjectives.12/23/2022ThelegislationrelatingtocoEnterpriseChamberTheCivilCodeprovidesthatinterestedpartiesmaycomplaintotheEnterpriseChamber(Ondernemingskamer)oftheCourtofJusticeinAmsterdamiftheyfeelthatthefinancialstatementssubmitteddonotcomplywiththelaw.TheChamberiscomposedofthreejudgesandtwoexperts；thereisnojury.Theterm‘interestedparties’isdefinedbroadly,including:shareholders,employees,workscouncilstradeunions.12/23/2022EnterpriseChamberTheCivilCoTheChambermayorderrectificationofthefinancialstatements.AlthoughtherulingsoftheChamberareapplicableonlytothedefendantcompany,theChambermayindicategroundsforitsdecisions,whichmayinfluencethereportingpracticesofothercompanies.FailuretocomplywiththeCourt’srulingsmaybepunishedbyfinesorimprisonment.NorulingsweregivenbytheChamberuntil1977.Ithassofargivenaboutfiftyrulingsdealingwithaccountingpoliciesanddisclosure.12/23/2022TheChambermayorderrectificFourmajororganizationsareconcernedwiththerevision,managementandimplementationofFrenchaccountingstandards:1.3AccountancyProfessionandAccountingStandards12/23/2022FourmajororganizationsarecRJRaadvoordeJaarverslaggeving(CouncilforAnnualReporting)年度報(bào)告委員會(huì)NIVRA[Koninklijk]NederlandsInstituutvanRegisteraccountants（[Royal]DutchInstituteofAuditors）(皇家)荷蘭審計(jì)師協(xié)會(huì)SOBIStichtingOnderzoekBedrijfsInformatie公司報(bào)表研究基金會(huì)NOVAANederlandseOrdevanAccountants-Administratieconsulenten荷蘭管理會(huì)計(jì)師協(xié)會(huì)12/23/2022RJRaadvoordeJaarverslaggRJ:年度報(bào)告委員會(huì)GuidancetogenerallyacceptableaccountingprinciplesisprovidedbytheguidelinespublishedbytheCouncilforAnnualReporting(RJ).RJiscomposedof:representativesofemployers(CounciloftheDutchEmployersFederations),investmentanalystsandemployees,accountants(RoyalNIVRA).TheauthorityoftheCouncilislessthanthatoftheFASBintheUnitedStatesortheASBintheUnitedKingdom.Companiesarenotobligedtofollowtheguidelines(althoughmostofthemdoso),norneedtheyortheirauditorsstatethattheyhavebeenfollowed；auditreportsarenotqualifiedforthisreason.12/23/2022RJ:年度報(bào)告委員會(huì)GuidancetogenerallRoyalNIVRA:(皇家)荷蘭審計(jì)師協(xié)會(huì)

ThestandardsofentrancetoandtrainingfortheprofessionareveryhighandRoyalNlVRA,althoughrelativelysmall(about13,000)members,ofwhomapproximatelyhalfareinpublicpractice),hasaninternationalreputation.RoyalNIVRAenforcesarigorouscodeofethics.HighstandardsarealsoensuredbytheprovisionsoftheRegisteredAccountantsActof1962.ApartfromRegisteraccountants(RAs),thereareabout6,500Accountants-Administratieconsulenten(AAs)whomainlyprovidenon-auditingservices,andaremembersoftheNederlandseOrdevanAccountants-Administratieconsulenten(NOVAA).12/23/2022RoyalNIVRA:(皇家)荷蘭審計(jì)師協(xié)會(huì)

ThestSOBI公司報(bào)表研究基金會(huì)CorporatefinancialreportingintheNetherlandshasbeenmonitoredbyanumberofactivepressuregroups，notablySOBI(theFoundationfortheInvestigationofCorporateInformation)．SOBIisaprivatesectorbody

establishedin1976

objectives:verifyingcompliancewithlegalrequirementsinfinancialstatements(annualreports，interimstatements，prospectuses)andoftakingactionshouldtheybedeemedtobeinaccurateorinadequate．12/23/2022SOBI公司報(bào)表研究基金會(huì)Corporatefinan2CharacteristicsofDutchAccounting

AccountingStandardsWereDevelopedbyaCombinationofOfficialandCivilSociety

TaxRegulationsHadOnlyanIndirectInfluenceonDutchFinancialReportingDutchAccountingPracticeGuidedbyEconomicsTheoryandthePrevalenceofReplacementValuesandCosts12/23/20222CharacteristicsofDutchAccI.AccountingStandardsWereDevelopedbyaCombinationofOfficialandCivilSocietyAccordingtothe"ActonAnnualAccounts",thetaskofdevelopingtheaccountingstandardswaslefttotheRJ,whichiscomposedofgovernment,companiesandprofessionalaccountants,andtradeunionrepresentatives.TheCommitteecompiledallpreviousrecommendationsontheaccountingstandardsinOctober1981,andpublished"theDutchdraftguidingprinciplesofaccounting"astheDutchfinancialaccountingandreportingbasis.Now,theguidancetogenerallyacceptableaccountingprinciplesisprovidedbytheguidelinespublishedbyRJ,inwhichtheaccountingprofessionhasplayedanactiverole.12/23/2022I.AccountingStandardsWereDII.TaxRegulationsHadOnlyanIndirectInfluenceonDutchFinancialReportingTheguidelinesrequirefullprovision(comprehensiveallocation)andtheliabilitymethod．Deferredtaxationliabilitiesmaybediscountedtotheirpresentvalue,althogughthisisnotcommoninpractice．12/23/2022II.TaxRegulationsHadOnlyaIII.DutchAccountingPracticeGuidedbyEconomicsTheoryandthePrevalenceofReplacementValuesandCosts

IntheNetherlands,accountingisregardedasabranchofbusinesseconomics.Highlyrespectedprofessionalaccountantsareoftenpart-timeprofessor.Therefore,manyeconomicsapproachhavebeenappliedtoaccountingpractice,particularlyintheaccountingmeasurement.12/23/2022III.DutchAccountingPracticeDutchaccountantsarewellknownfortheirbusinesseconomicsapproachtoaccountingandtheirrecognitionoftheimportanceofreplacementvaluesandcosts.TheCivilCode,asamendedin1983,permitsbutdoesnotrequiretheuseofcurrentcostaccounting.ContrarytowidespreadbeliefoutsidetheNetherlands,surveysshowthathistoricalcostnotcurrentvalueisthenorminDutchexternalfinancialreporting.Generalratesofinflationhavebeenrelativelylow.HeinekenistheonlymajorcompanyusingCCAforexternalfinancialreporting.Corporatetaxationisbasedonhistoricalcostnotreplacementcost.12/23/2022DutchaccountantsarewellknoTheaccountingprinciplesexpresslystipulatedbytheCivilCodeare:goingconcern,consistency,accruals,prudence,realizationindividualvaluation.3.AccountingRegulations

12/23/2022TheaccountingprinciplesexprAmortization,depreciationanddiminutioninvalueoffixedassetsmustbetakenintoaccountregardlessofwhetheraprofitorlossisreported.Straight-linedepreciationisthemostcommoninpractice.Buildingsbutnotlandsareusuallydepreciated.Depreciationfortaxpurposesoftenvariesfromthatchargedintheprofitandlossaccount.12/23/2022Amortization,depreciationandIntangibleassetsotherthanresearchanddevelopmentandshareissueexpensesmaybecapitalized,butonlyifpurchased.Capitalizationmustbefollowedbyamortization,withamaximumperiodoffiveyears,althoughwherepurchasedgoodwillcanreasonablybeallocatedtoasubstantiallylongerperiod,itmaybewrittenoffoverthatperiod.Totheextentthatcertainintangibles(R＆Dandformationcosts,forexample)havenotbeenamortized,areservemustbecreated.ThisisundistributableuntilamortizationtakesPlace.Inpractice,manyDutchcompaniesdonotcapitalizeintangiblesatall,writingoffgoodwillagainstreserves.12/23/2022IntangibleassetsotherthanrIfhistoricalcostaccountingisused,tangiblefixedassetsmustbevaluedatacquisitionorproductioncost,reducedbyamortization,depreciationandanyotherdiminutioninvalue.Acquisitioncostisdefinedasthepurchasepricepluscostsincidentalto