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IAS 38

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

  • This topic has 4 replies, 2 voices, and was last updated 10 months ago by thanh123.
Viewing 5 posts - 1 through 5 (of 5 total)
  • Author
    Posts
  • March 16, 2022 at 5:29 am #651348
    thanh123
    Member
    • Topics: 44
    • Replies: 30
    • ☆☆

    Hello, I have a question of IAS 38.

    In the research stage, it occurs $10m for material, labour, overhead,…… But when it moves into the development stage, assuming that all conditions have been meet to be capitalised as intangible asset. So, all $10m from research stage is capitalised as intangible asset ?

    Hope to obtain your explanation. Thanks tutor

    March 17, 2022 at 7:31 pm #651442
    P2-D2
    Keymaster
    • Topics: 4
    • Replies: 6443
    • ☆☆☆☆☆

    Hi,

    No, what has been previsouly expensed remains written off. It is only subsequent expenditure that is capitalised as development costs.

    Thanks

    March 18, 2022 at 1:52 am #651477
    thanh123
    Member
    • Topics: 44
    • Replies: 30
    • ☆☆

    Previous expenses in research stage is written off ?, you means that these expenses should be eliminated ?. You will adjust retrospectively ?

    March 19, 2022 at 9:44 am #651518
    P2-D2
    Keymaster
    • Topics: 4
    • Replies: 6443
    • ☆☆☆☆☆

    No, anything that has been written off remains written off. It is only subsequent expenditure that is capitalised once the criteria have been met.

    March 19, 2022 at 3:22 pm #651528
    thanh123
    Member
    • Topics: 44
    • Replies: 30
    • ☆☆

    oh oh, I think that I have already known your explanation. Thanks tutor.

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