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IAS 38

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FA – FIA FFA › IAS 38

  • This topic has 3 replies, 2 voices, and was last updated 7 years ago by John Moffat.
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  • June 4, 2018 at 6:33 pm #456141
    madni141
    Member
    • Topics: 27
    • Replies: 16
    • ☆

    What do these statements mean?
    1) “Intangible assets are capitalized”
    2) “defer the expense”

    June 5, 2018 at 6:01 am #456242
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54788
    • ☆☆☆☆☆

    1. It means record intangible assets in the Statement of Financial Position as non-current assets.

    2. Defer means delay. So deferring an expense means recording it in a later period.

    June 5, 2018 at 5:26 pm #456552
    madni141
    Member
    • Topics: 27
    • Replies: 16
    • ☆

    Thank you very much!

    June 6, 2018 at 6:34 am #456726
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54788
    • ☆☆☆☆☆

    You are welcome 🙂

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