- This topic has 3 replies, 2 voices, and was last updated 1 year ago by
.
- Posts
Which TWO of the following items must be disclosed in the note to the financial statements for intangible assets in accordance with IAS 38 Intangible Assets?
A. The useful lives of intangible assets capitalised in the financial statements
B. A description of the development projects that have been undertaken during the period
C. A list of all intangible assets purchased or developed in the period
D. Impairment losses written off intangible assets during the periodThe correct answers are A and D. But I don’t really understand what option D means. Can you help explain? Thanks!
Impairment losses are the equivalent of depreciation for tangible assets. So if they reduce the value during the period they have to disclose the fact in the notes to the financial statements.
- The topic ‘BPP intangible assets’ is closed to new replies.