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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › Intangible assets-internally generated assets
Dear Tutor,
I know that internally generated assets are not normally recognised on the balance sheet. However, should I recognise internally-generated software as an asset if it is reliably measurable?
Many thanks,
Valentina
It has been – in certainly one exam. It was classed as development during the stages of development and then transferred fro Development to a separate asset as “Software”
But you are correct, it should not normally be recognised and I’m still not sure myself why it was in that past exam question – sorry