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Dear Mike,
Can an independently valued customer list be capitalised and recognised as an intangible asset?
Only on an acquisition by another entity of the entity that has developed the customer database
On a consolidation the acquirer will value the acquiree’s assets (recognised and unrecognised) at fair value that that will include such intangibles as customer lists
OK?
So what you mean is, on acquisition IAS 38 limitations kind of lose their power and we follow IFRS 3. Since we identified the customer list at its fair value, we can pull it out from goodwill and present separately. Now I get it, that makes sense. Thank you very much sir.
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