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These two statements are from OT notes
if sales financed by the seller, difference between apparent sale value and fair value should be recognised as finance income … ( what is sales financed by the seller?)
and
all assets in a class should be revalued unless there is no active market, in which case follow benchmark ( what are the differnt classes of intangible asset that are normally found? )
Sales financed by a seller is where the seller grants a period of credit (typically an extended period rather than simply 30 days or “payment receivable at the end of the month following invoice”
Patents, copyrights, franchises, fishing rights, emission quotas ……
Ok?
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