- This topic has 1 reply, 2 voices, and was last updated 2 months ago by
Stephen Widberg.
Stephen Widberg.Viewing 2 posts - 1 through 2 (of 2 total)
-
Posts
-
thanh123
- Topics: 40
- Replies: 27
- ☆☆
48 KLANCET – Kaplan kit – part a (ii). The answer stated that the derecognition of patent is recorded in PL. I think that it is wrong as the sale of patent is not main course of business activity and IAS 38 prohibit to recognize patent as revenue.
Please give me your opinion. Thanks tutor !
Stephen Widberg
- Topics: 10
- Replies: 2557
- ☆☆☆☆☆
If they buy and sell patents as a core business activity – revenue.
If they have purchased a patent as an intangible long term asset – then profit on sale of intangible in P&L as other operating income.
thanh123
Stephen WidbergViewing 2 posts - 1 through 2 (of 2 total)
- You must be logged in to reply to this topic.