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IAS 38

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › IAS 38

  • This topic has 1 reply, 2 voices, and was last updated 7 years ago by P2-D2.
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    Posts
  • February 22, 2018 at 8:23 am #438330
    mumbaikar
    Participant
    • Topics: 50
    • Replies: 45
    • ☆☆

    If the economic inflow is not known or management says we cant conclude on the likelihood of the inflow of an intangible asset, will it be capitalised?

    Another issue is that sir, if there is a non refundable payment made to a company granting you a licence to operate, how do you account for that?

    February 22, 2018 at 9:39 pm #438469
    P2-D2
    Keymaster
    • Topics: 4
    • Replies: 7163
    • ☆☆☆☆☆

    Hi,

    The intangible cannot be capitalised unless it meets the criteria, so if there is no probable inflow of economic benefit then it cannot be capitalised.

    If you have paid to purchase a licence then you will capitalise it at cost and then amortise it over its useful life.

    Thanks

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