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Intangible assets

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › Intangible assets

  • This topic has 1 reply, 2 voices, and was last updated 1 year ago by Stephen Widberg.
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  • June 4, 2021 at 10:42 am #623095
    Jiya024
    • Topics: 168
    • Replies: 56
    • ☆☆☆

    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
    Moderator
    • Topics: 10
    • Replies: 2518
    • ☆☆☆☆☆

    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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