Page 7 - Finac1 Test 3 slides - 2. Intangible Assets
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TEST 3 PREPARATION
Outcomes
• Measure intangible assets after the initial recognition
by applying either the cost model or the revaluation
model.
• Amortise intangible assets taking the residual value and
economic benefits into account.
• Recognise and account for impairment losses to
intangible assets.
• Calculate and account for profits and losses with the
retirement or disposal of intangible assets.
• Disclose intangible assets in the financial statements.
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