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IAS 38 & IFRS 3

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › IAS 38 & IFRS 3

  • This topic has 1 reply, 2 voices, and was last updated 5 years ago by Stephen Widberg.
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  • May 16, 2020 at 9:05 am #571006
    toushiga
    Participant
    • Topics: 424
    • Replies: 172
    • ☆☆☆☆

    Sir, for PYQ Sept 2018 Q3 b(i)

    “There are other intangible assets which are gradually replaced by the purchasing entity’s own intangible asset”

    1.is it refers to they become own generated intangible assets?

    “for example,customer lists,and it may make sense to account for these assets within goodwill.In such cases,investors may wish to reverse amortisation charges.”

    2. The customer lists not valued at FV when acquired? why subsumed within goodwill? and why need to reverse amortisation charges for the customer lists?

    “IFRS standard do not permit a different accounting treatment for this distinction”

    3.What distinction is refers to here?

    Thank you so much for your help.

    May 16, 2020 at 1:42 pm #571037
    Stephen Widberg
    Keymaster
    • Topics: 16
    • Replies: 3411
    • ☆☆☆☆☆

    This is a discussion question

    It’s saying that some academics believe that more intangibles should be subsumed within goodwill.

    If that happened the amortisation would be replaced by impairment reviews

    And some academics think the opposite

    So all you need to know is what the current rules are, and then discuss whether they might be the best rules that you could have

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