- This topic has 1 reply, 1 voice, and was last updated 11 years ago by
.
Viewing 2 posts - 1 through 2 (of 2 total)
- Posts
We all knew that some internally-generated intangible asset is not recognised in the financial statements: brand, customer list as the cost of them can not be reliably estimated
Then if A sell a brand to B,how can the FS of A be accounted for?Just clarify my question:
As you know ,when you sell inventory or disposal asset… , the double entry is
Dr expense( disposal ) Cr inventory( asset)
Dr cash… Cr revenue( disposal)
Then in the case ur company sell a brand or customer list and have no right use it( ie transfer the right to ur customer ),then it need to derecognise the asset ( dr expense cr asset)
But as there is no asset here in the fs , how can it be derecognised
Viewing 2 posts - 1 through 2 (of 2 total)
- You must be logged in to reply to this topic.