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Brand values are expressed in terms of words such as "quality" and "integrity." The Market

Brand values are expressed in terms of words such as "quality" and "integrity." The Marketing Society rated the brand value of McDonald's in 2008 at $10,417,000,000.* Required a. What are brand values? [2 marks] b. Define an asset as stated in the Statement of Financial Accounting Concepts. [2 marks] c. In your opinion, do brands represent a valuable asset and why? Comment. [8 marks] d. What is an internally generated brand as defined in the International Accounting Standards and how does it relate to the concept of an asset? e. Under generally accepted accounting principles, should an internally generated brand value be recognized as an asset? If not, why not? Comment. [6 marks] f. If the brand was purchased, should it be recognized as an asset? Comment. [4 marks] *Adopted from www.brandfinance.com/docs/50 _golden_brands.asp

Dec 06 2019 View more View Less

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