Question

Is the company's logo an intangible asset, which is created in the company?

Answer 1

As per IAS 38 if you are building an internal intangible, the intial phase of research phase will be expense out,  

But in development phase it will be capitalized if certain conditions fullfiled , in above case conditions fulfilled as company successfuly built logo.

It is an intangible asset of the company but it has indefinite usefull life so it will not be amortized (coca cola does not amortize its logo , also do not show it its balance sheet)

But as per Ias 36 (impairment ) company has to do impairment test at the end of each financial year

Answer 2

According to IAS 38, the costs relating to internally generated intangible items cannot be capitalized and are treated as expense as incurred. This includes research, start-up and advertising costs. Expenditure on internally generated brands, mastheads, customer lists, publishing titles and goodwill are not recognized as intangible assets. Hence, logo created internally in the company cannot be considered as intangible asset and should be treated as expense.