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Intangible assets

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

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June 4, 2021 at 10:42 am #623095
Jiya024
Member
- Topics: 168
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Dear Professor,
Is it possible by any chance that a purchased intangible asset does not meet the recognition criteria under IAS 38?
Many thanks!
June 5, 2021 at 9:12 am #623242
Stephen Widberg
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- Topics: 16
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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.
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