Intangible assets include franchise rights ... However, the research and development costs of internally generated patents, no matter how valuable, are expensed as they occur.

Read to find out more about amortization, an important accounting method that accounts for the reduction in value of intangible assets over time.

For intangible assets, it outlines the systematic allocation of the asset’s cost over its useful life. Amortization schedules outline the payments needed to pay off a loan and how the portion ...