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IAS38 intangibles

This topic has 1 reply, 2 voices, and was last updated 4 years ago by Stephen Widberg.

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April 23, 2021 at 7:03 pm #618630
osamasyed123
Participant
- Topics: 51
- Replies: 42
Hi there Sir
Going through the bpp kit book
Here examiner has quoted that intangible assets can be carried at cost OR via the revaluation model?
In our opentuition notes there isnt anything mentioned about the revaluation model
Can you please clarify
Thankyou
April 25, 2021 at 11:26 am #618810
Stephen Widberg
Keymaster
- Topics: 16
- Replies: 3397
It’s very rare.
Can only be used if active market for identical assets
Example would be market traders’ licences.
If the client wishes to revalue a brand or whatever – safe to say – ‘no – not allowed’.
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