The paper develops the argument presented in my earlier article, Intentional Reference and Its Object in Husserl’s Transcendental Idealism. It contains further considerations on the proper understanding of Husserl’s notion of noema. My aim is not only to present an interpretation of Husserl’s text, but primarily to understand what constitutes an intentional reference of an act of consciousness. I agree with some of Husserl’s claims in Ideas, Book I, that noema, sense and intentional object are basically the same. This standpoint (...) implies, however, a drastic reinterpretation of the notion of an object. I refer to Ingarden’s conception of a purely intentional object to show the difficulties connected with regarding noema as an object separate from consciousness but still existentially dependent on it. Analyzing Husserlian notion of a noematic core I emphasize the relevance of universals for Husserl’s theory of consciousness. (shrink)