Page 8 - 2018 Finac1 Test 3 Class Slides - 2. Intangible Assets

TEST 3 PREPARATION

Outcomes

• Identify the purpose and scope of the IAS 38 Intangible

Assets.

• Apply the definitions.

• Identify intangible assets.

• Apply the criteria to recognise and initially measure

different types of intangible assets. Differentiate between

intangible assets acquired separately, acquired as part of

a business combination, by way of a government grant or

exchanged. In addition you should be able to account for

goodwill generated internally or other internally

generated intangible assets.

• Recognise expenses incurred either as an expense or as

part of the cost of intangible assets.

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