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IAS 38 VS IAS 2

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › IAS 38 VS IAS 2

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  • October 4, 2019 at 2:15 pm #548116
    Mohamed
    Participant
    • Topics: 2
    • Replies: 2
    • ☆

    Are the softwares devoloped by software companies intangible assets? or inventory?

    October 6, 2019 at 9:19 pm #548238
    P2-D2
    Keymaster
    • Topics: 4
    • Replies: 7222
    • ☆☆☆☆☆

    Hi,

    The development is under IAS 38. If it then sold it forms part of inventory, so it depends on its usage in the company, similar to say a car. If we use the car it is PPE, if it is bought for resale then it is inventory.

    Thanks

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