CEVAP:

In the balance sheet, each class of long term assets (non-current assets) should be disclosed on the main body of the statement or in the notes.

Intangible assets are usually reported in the balance sheet ina separate section following Property, Plant and Equipmentassets. The balance of each class of intangible assets should be disclosed on the balance sheet at their book value 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. Amortization expense is reported on the income statement as part of operations.