Since 1996, Nike, Inc. has had endorsement contracts with Tiger Woods and some of the world's best

Question:

Since 1996, Nike, Inc. has had endorsement contracts with Tiger Woods and some of the world's
best known athletes. For example, Nike has been able to gain the rights to use Tiger Woods's name in advertising promotions and on Nike Golf apparel, footwear, golf balls, and golf equipment.
Instructions
Conduct research on the Internet to determine the nature of the endorsement contracts that Nike has with top athletes such as Tiger Woods. How does Nike pay for the rights to use the names of these athletes? Using Nike, Inc.s most recent (that can be found in their Form-10K filing), determine how Nike reports the cost of endorsement contracts. Does the cost qualify as an intangible asset under IAS 38?
Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...