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Can you please explain what is intangible asset and why we need to recognize it and how to recognize it ? It is confusing ??
What you are asking is not relevant for ACCA Paper F2 – it is examined in Paper F3.
The word intangible means that we cannot touch it. So things like building and motor cars are tangible assets – they can be touched.
Intangible assets are things like Goodwill and Development expenditure.How we deal with them is cover in chapter 21 of our free Paper F3 lecture notes, and the free lectures that go with the notes.
The lectures are a complete free course for Paper F3 and cover everything needed to be able to pass the exam well.
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