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May i ask how to accounted for intangible asset that acquired by government grant? Should it accounted accordance with ias 38 or ias20?
Imagine it’s a licence
Dt Intangible Cr Cash with money paid
Dr Cash Cr Deferred income with grant received
But if licence was actually given to you by the government, I would go for:
Dr Intangible Cr Deferred income with either a nominal amount ($1) or the fair value (hard to measure)