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Intangable assets

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › Intangable assets

  • This topic has 3 replies, 2 voices, and was last updated 9 years ago by MikeLittle.
Viewing 4 posts - 1 through 4 (of 4 total)
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  • February 17, 2016 at 6:48 am #300754
    tarek
    Participant
    • Topics: 45
    • Replies: 57
    • ☆☆

    MR Mike
    if i created trade mark internally i know that i cannot recognize it but after many years i expensed to improve this trademark for example change the logo and style of menues .
    should i recognize this expenses as intangble assets ?

    Thanks

    February 17, 2016 at 8:39 am #300778
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23317
    • ☆☆☆☆☆

    No, it’s still an expense.

    How can you capitalise expenditure on an asset when that asset doesn’t exist?

    February 17, 2016 at 9:36 am #300785
    tarek
    Participant
    • Topics: 45
    • Replies: 57
    • ☆☆

    Thanks mike
    Can I capitalize trade mark which I created internally?

    February 17, 2016 at 10:05 am #300789
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23317
    • ☆☆☆☆☆

    Not that I’m aware of – I believe that these extracts from IAS 38 make it abundantly clear!

    “Examples of intangible assets: (lots of others missed off this post)

    trademarks, trade dress, newspaper mastheads, internet domains”

    “Initial recognition: internally generated brands, mastheads, titles, lists

    Brands, mastheads, publishing titles, customer lists and items similar in substance that are internally generated should not be recognised as assets.”

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