Accounting for Intangible Assets of Motor Carriers—an amendment of Chapter 5 of ARB No. 43 and an interpretation of APB Opinions 17 and 30 (Issued 12/80)
Enactment of the Motor Carrier Act of 1980, deregulating motor carriers, raises questions regarding whether certain intangible assets of motor carriers should continue to be reported as assets or charged to income. This Statement requires the unamortized costs of motor carrier intangible assets representing interstate rights to transport goods with limited competition to be charged to income and, if material, reported as an extraordinary item. This Statement does not affect the accounting for other intangible assets of motor carriers, such as goodwill.