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Intangibles – held for sale

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › Intangibles – held for sale

  • This topic has 1 reply, 2 voices, and was last updated 2 years ago by Stephen Widberg.
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  • Author
    Posts
  • November 1, 2023 at 11:40 am #694276
    mariya2311
    Participant
    • Topics: 11
    • Replies: 16
    • ☆

    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.

    November 2, 2023 at 8:27 am #694299
    Stephen Widberg
    Keymaster
    • Topics: 17
    • Replies: 3447
    • ☆☆☆☆☆

    Apply IFRS 5

    Write down to fair value less costs to sell

    No more amortisation.

    Transfer to current assets

    🙂

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