Customer-related intangible asset
In a business combination, assess whether an acquired customer-related asset is identifiable and meets IFRS 3 and IAS 38 requirements, including acquisition-date measurement. An internally generated customer list is not recognised as an intangible asset under IAS 38 merely because it is valuable. Subsequent accounting depends on useful life, amortisation and impairment requirements.
Worked example
An acquired business has customer contracts that meet the recognition and measurement requirements. The acquirer identifies and measures the qualifying customer-related asset separately from goodwill at the acquisition date.
Common mistake
Automatically recognising a customer list built internally or assuming every customer relationship must be included in goodwill.
Where it appears in your exams
| Qualification | Exam | Relationship | Period |
|---|---|---|---|
| ACCA | FR | Supporting | September 2026–June 2027 |
| ACCA | SBR | Direct | September 2026–June 2027 |