Standards
Summary of Statement No. 44
Accounting for Intangible Assets of Motor Carriers--an amendment of Chapter 5 of ARB No. 43 and an interpretation of APB Opinions 17 and 30 (Issued 12/80)
Summary
Enactment of the Motor Carrier Act of 1980, deregulating motor
carriers, raises questions regarding whether certain intangible
assets of motor carriers should continue to be reported as assets
or charged to income. This Statement requires the unamortized costs
of motor carrier intangible assets representing interstate rights
to transport goods with limited competition to be charged to income
and, if material, reported as an extraordinary item. This Statement
does not affect the accounting for other intangible assets of motor
carriers, such as goodwill.
Additional Details
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