IAS 38 VS IAS 2

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October 4, 2019 at 2:15 pm #548116
Mohamed
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Are the softwares devoloped by software companies intangible assets? or inventory?
October 6, 2019 at 9:19 pm #548238
P2-D2
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Hi,

The development is under IAS 38. If it then sold it forms part of inventory, so it depends on its usage in the company, similar to say a car. If we use the car it is PPE, if it is bought for resale then it is inventory.

Thanks
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