The criteria that can be applied to the breakdown of equity components constituting the estate of the company - intangible and tangible assets in accordance with U.S. GAAP and IAS / IFRS[Kritéria, která lze uplatnit při členění majetkových složek tvořících majetkovou podstatu podniku - nehmotná a hmotná aktiva podle US GAAP a IAS/IFRS]

The paper focuses on financial reporting of long-lived assets. The author's aim was to analyze the approach of two major accounting principles - IAS/IFRS and US GAAP.Both of the principles address following issues:* initial recognition and measurement,* depreciation: allocation of capitalized costs over the useful life of the asset* disposal of the asset.Broadly accepted classification of the long-lived assets divides the whole group into two parts: tangibles and intangibles.General definitions and recognition criteria are covered by the framework. Particular standards dial then with special matters.Although both international approaches have a lot in common, several differences emerge:* US GAAP do not allow to capitalize internally developed intangibles,however developed intangibles can be capitalized under special conditions according to IAS/IFRS;* impairment: IAS/IFRS allow to cancel or adjust the impairment towards the original value of the asset, US GAAP - once impairment is recognized, it is not permitted to cancel it and to return back to the original value of the asset* IS /IFRS use historical costs based treatment and allowed alternative treatment - revaluation, US GAAP don't use allowed alternative treatment of the assets - revaluation is not permitted;* IAS/IFRS set the useful life of the intangibles up to 20 years, US GAAP don't restrict the useful life at all.In the process of convergence of IAS/FRS and US GAAP questions have arisen which of the approaches should be taken as a crucial one for world accounting principles. Standard-setters prepare studies to support their current approach. Unified solution has not been found yet.