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Is customer list an intangible asset?

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › Is customer list an intangible asset?

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  • December 8, 2020 at 6:14 pm #598533
    Avataraleksolg
    Member
    • Topics: 1
    • Replies: 1
    • ☆

    Hi,

    I am confused here:

    IAS 38:
    para 9: “Common examples of items encompassed by these broad headings are computer software, patents, copyrights, motion picture films, CUSTOMER LISTS <…>”

    para 63: “Internally generated brands, mastheads, publishing titles, CUSTOMER LISTS
    and items similar in substance shall not be recognised as intangible assets.”

    Can someone please explain the difference?

    Thanks.

    December 8, 2020 at 9:24 pm #598639
    AvatarP2-D2
    Keymaster
    • Topics: 4
    • Replies: 7232
    • ☆☆☆☆☆

    Hi,

    If you purchase the list it can be capitalised as it will have a fair value. If it is internally generated then you cannot allocate a value and therefore it is not capitalised.

    Thanks

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