Page 21 - Finac1 Test 3 slides - 2. Intangible Assets
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TEST 3 PREPARATION
Internally generated goodwill
• Internally generated goodwill shall not be
recognised as an asset. (IAS 38.48)
• Internally generated goodwill is not recognised as
an asset because it is not an identifiable resource
controlled by the entity that can be measured
reliably at cost. (IAS 38.49)
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