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Why development expenditure recognized as an expenditure in SOPL cannot be subsequently be reinstated as an asset in SOFP?
Basically if development expenditure met the criteria for capitalisation it should have been capitalised and not expensed. If it didn’t meet all the criteria and was correctly expensed in profit and loss then it should stay that way. IAS 38 specifically prohibits capitalising expenditure that didn’t previously meet criteria to be capitalised. Hope this helps.
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