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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: April 1, 2011
(see revision history)

POLICY OBJECTIVE

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

POLICY STATEMENT

The campus President or designee is responsible for ensuring that a documented process is followed for the recording and tracking of intangible assets.   The sale or licensing of intangible intellectual property should be done in accordance with pertinent CSU policies. 

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

Intangible assets may include but are not limited to:

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

 

APPLICABILITY AND AREAS OF RESPONSIBILITY

 

REVISION HISTORY

 

RESOURCES AND REFERENCE MATERIALS

Useful Guidelines:

• CSU Capital Assets Guide (included in the annual CSU GAAP Manual)

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