Hello,
Intagibles sold in the ordinary business are accounted as Inventories on recognition. However, If we initially have recognized an Intangible asset without planning to sell it and later we decide to sell it, how is the disposal accounted for? Is it like regular disposal?
Thanks.
Ask the Tutor ACCA SBR
Intangibles - held for sale
2y ago#1Apply IFRS 5
Write down to fair value less costs to sell
No more amortisation.
Transfer to current assets
:)
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