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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › Intangibles – held for sale
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.
Apply IFRS 5
Write down to fair value less costs to sell
No more amortisation.
Transfer to current assets
🙂
