Page 13 - PowerPoint Presentation

INTANGIBLE ASSETS

Control – 38.13

• An entity controls an asset if the entity has the

power to obtain the future economic benefits

flowing from it and to restrict the access of others

to those benefits.

• Control exists because of enforceable legal rights.

• However, legal enforceability is not a necessary

condition for control since the future economic

benefits may be controlled in some other way.

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