Intangible assets are usually reported in the balance sheet in a separate section following Property, Plant and Equipment assets. The balance of each class of intangible assets should be disclosed on the balance sheet at their book value (cost less accumulated depreciation) either in the face of the statement or the notes. Intangibles do not usually use a contra asset account like the contra asset account Accumulated Depreciation used for plant assets. Instead, companies record amortization of intangibles as a direct decrease (credit) to the asset account.