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CSU POLICY

Section 3000 Policies

Policy Number:  3151.02

Policy Title: Intangible Assets

Policy Effective Date: April 1, 2011

Last Revision Date: October 6, 2011
(see revision history)

POLICY OBJECTIVE

It is the policy of the California State University (CSU) to recognize and safeguard its intangible assets via timely recording and tracking.  Each campus must prepare written procedures that implement this policy.

POLICY STATEMENT

The Chief Financial Officer (CFO) of each campus of the California State University is responsible for ensuring that a documented process is followed for the identification, recording and tracking of intangible assets.   The sale or licensing of intangible intellectual property must be done in accordance with pertinent CSU policies. 

Campuses must evaluate and record all intangible assets in accordance with applicable GASB statement requirements to ensure compliance with generally accepted accounting principles.

Intangible assets include but are not limited to:

• Copyrights
• Easements
• Patents
• Software (internally and externally-developed)
• Trademarks
• Websites

 

APPLICABILITY AND AREAS OF RESPONSIBILITY

 

REVISION HISTORY

April 1, 2011

RESOURCES AND REFERENCE MATERIALS

Useful Guidelines:

• CSU Capital Assets Guide (included in the annual CSU GAAP Manual)
• Executive Order No. 644- Intellectual Property Campus Policies
• E.O. 731 – Designation of Chief Financial Officer

Related Principles:

• GASB Statement No. 34: Basic Financial Statements – and Management’s Discussion and Analysis – for State and Local Governments
• GASB Statement No. 51: Accounting and Financial Reporting for Intangible Assets

Sound Business Practices:

 

Laws, State Codes, Regulations and Mandates:

• Executive Order No. 644