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usually when the question talks about internally generated intangible assets, how do we know whether it’s talking about research phase or development phase(because if it’s development phase, it can be recognized under intangible asset if it satisfies the criteria such as technical feasibility…etc) ?
it seems like in the all the past questions, when they ask about internally generated intangible assets, they all assumed as research phase.
There are numerous past exam (P7) Qs which reference brands – either purchased or internally generated (the scenario will make clear).
For other intangibles, in Parker (J13), it is shown in the SoFP as “Intangible asset – DEVELOPMENT cost” – referenced to a note 2 which says “The development costs relate to a new range of organic cosmetics” and then in the scenario it says “new brand using organic ingredients is being developed and is due to launch in …”. In Cooper (J14), the scenario says “Cooper Co has started to RESEARCH a replacement chemical …”So I am not sure where your assertion that research phase is assumed is coming from.
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