Skip to content

Ask the Tutor ACCA SBR

Intangible assets

JJiya0245y ago
Dear Professor, Is it possible by any chance that a purchased intangible asset does not meet the recognition criteria under IAS 38? Many thanks!
stephenwidbergstephenwidbergTutor5y ago#1
Yes - if there is no probable inflow of benefits. Imagine a celebrity has been jailed for a horrible crime, and you buy a brand name which uses that celebrity's name. No one will buy your product.
Sign into reply to this topic.