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If the brand is internally generated, so it is not intangible asset right?
And
Does capitalisation and recognition brings the same meaning?
And if there were a business acquisition under ifrs 3, the brand is now can be recognised at fair value? Am I right?
Brand – internal – do not capitalise
Brand purchased as part of business acquisition – capitalise at FVRecognise means ‘include somewhere in the FS – SFP or P&L or OCI
So safer to say capitalise
Capitalization is the method of recognizing the cost incurred as an expenditure which is capital in nature or recognizing such expenditure as an asset of the business.
Recognition is the process of incorporating in the SOFP or SOP/L an item that meets the definition of an element of financial statements and meets the recognition criteria
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