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INTANGIBLE ASSETS

Introduction – IAS 38

• The objective of this standard is to prescribe the

accounting treatment for intangible assets.

• An intangible asset is an identifiable non-monetary

asset without physical sub-stance.

• The standard stipulates the criteria to be met by

the assets in order to qualify as recognisable

intangible assets.

• It also specifies how to measure the carrying

amount of intangible assets and also prescribes

certain disclosures relating to intangible assets.

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