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IAS38 intangibles

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › IAS38 intangibles

  • This topic has 1 reply, 2 voices, and was last updated 4 years ago by Stephen Widberg.
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  • April 23, 2021 at 7:03 pm #618630
    osamasyed123
    Participant
    • Topics: 51
    • Replies: 42
    • ☆☆

    Hi there Sir
    Going through the bpp kit book
    Here examiner has quoted that intangible assets can be carried at cost OR via the revaluation model?
    In our opentuition notes there isnt anything mentioned about the revaluation model
    Can you please clarify
    Thankyou

    April 25, 2021 at 11:26 am #618810
    Stephen Widberg
    Keymaster
    • Topics: 16
    • Replies: 3411
    • ☆☆☆☆☆

    It’s very rare.

    Can only be used if active market for identical assets

    Example would be market traders’ licences.

    If the client wishes to revalue a brand or whatever – safe to say – ‘no – not allowed’.

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